Consolidated Audit Trail, LLC and FINRA CAT, LLC will host a monthly Industry Testing Checkpoint Call for CAIS/LTID on Wednesday, March 3, 2021 at 4:15 pm ET.
Please note that FINRA CAT, LLC utilizes Zoom to conduct industry webinars. Please check your firewall to ensure your firm has the ability to view Zoom content. If you are unable to download and run Zoom, please click the “join from your browser” link. This webinar will be recorded. The presentation document and recording will be posted.Audio file
- EventAudio file
On February 24, 2021 at 3 pm ET, Consolidated Audit Trail, LLC and FINRA CAT, LLC will host an industry webinar to provide a basic overview of the Industry Member Report Cards.
Please note that FINRA CAT, LLC utilizes Zoom to conduct industry webinars. Please check your firewall to ensure your firm has the ability to view Zoom content. If you are unable to download and run Zoom, please click the “join from your browser” link. This webinar will be recorded. The presentation document and recording will be posted.Audio fileTopics
On a MEOT event, the only instances where the cancelFlag may be set to true is when a trade is cancelled because the trade report is rejected by the TRF/ORF or ADF beginning in Phase 2a, or when the trade is cancelled but the Trade event is not linked to the related trade report due to use of reportingExceptionCode ‘C’ beginning in Phase 2c.
- Reference Material
- FAQB72. Is my response to a Request for Quotes (“RFQ”) or other solicitation process required to be reported as a New Order event (“MENO”) or New Option Order event (“MONO”) in Phase 2a or Phase 2b if my response is selected as the winning bid?
No. In Phase 2a/2b, any response to an RFQ or other solicitation process is not required to be reported as a MENO or MONO no matter the method of response (electronic or manual). In addition, while the Responder is not required to report its response to CAT, it may optionally do so using the handlingInstructions value of ‘SR’ on the appropriate CAT events.
- FAQQ41. FAQ Q40 states that all accounts with any CAT-reportable activity on or after January 11, 2022 must be reported to CAIS on or by July 11, 2022. Are updates or changes to customer and account information that occur between January 11, 2022 and July 10, 2022 required to be captured and reported to CAIS on July 11, 2022?
As outlined in FAQ Q40, all Active Accounts with activity on or after January 11, 2022 must be reported to CAIS on or by July 11, 2022. Industry Members are required to report the current state of the customer information and account records in effect at the time the account is first reported to the CAIS Production Environment as of July 11, 2022. Subsequent updates and changes to customer and account information must be reported to CAIS on a go-forward basis.
- FAQQ39. A customer with a prime broker opens an RVP/DVP account at the firm. The account is opened in the name of the Prime Broker F/B/O Customer. Whose address and transformed identifier should be reported to CAIS for that account?
Both. The CAT NMS Plan defines a “Customer” as (a) the account holder(s) of the account at a registered broker-dealer originating the order; and (b) any person from whom the broker-dealer is authorized to accept trading instructions for such account, if different from the account holder(s). In this scenario, the prime broker is the Account Holder and the customer is an Authorized Trader. Therefore, the address and transformed identifier of both the prime broker and the F/B/O customer must be reported to CAIS for the account.
- FAQQ40. The CAT NMS Plan specifies that “Active Account” information needs to be populated in CAIS in July 2022. What is an “Active Account”?
Section 1.1 of the CAT NMS Plan defines “Active Accounts” as “an account that has had activity in Eligible Securities within the last six months.” Section 6.4(d)(iv) of the Plan, as well as the SRO CAT Compliance Rules, requires each Industry Member to “submit an initial set of the Customer information… for Active Accounts to the Central Repository [CAIS] upon the Industry Member’s commencement of reporting to the Central Repository [CAIS].”
- Technical Specifications