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- Technical Specifications
- Technical Specifications
- FAQB54. Do the timestamps captured in CAT have to equal the timestamps captured in OATS? For example, if a firm’s system captures nanoseconds, but timestamps are reported to OATS in milliseconds, should the timestamp reported to CAT be captured in nanoseconds?
OATS reporting obligations are separate and distinct from CAT reporting obligations, and a firm’s CAT reporting obligation may be different from its OATS reporting obligation. If a firm’s system captures timestamps in nanoseconds, then its CAT events must be reported to nanosecond granularity, even though its OATS submission will only reflect millisecond granularity since OATS does not accept nanoseconds.Topics
- FAQQ9. What is an Unidentified Large Trader ID (ULTID) and are all Industry Members required to report ULTIDs to CAT CAIS?
As described in the Customer and Account (LTID) Technical Specifications, in the scenario a CAT Reporter that is a clearing firm or self-clearing firm determines a person (which includes both natural persons and legal entities under Section 13(h)(8)(E) of the Exchange Act) would qualify as a large trader, but the firm has not yet been provided with an LTID by the person, the clearing firm or self-clearing firm is required to assign an ULTID to the person until such time as the person provides their LTID.
- FAQQ10. Is the ltidEffectiveDate the date when the LTID was assigned by the SEC or the date that the clearing firm was provided the LTID?
The ltidEffectiveDate in this scenario is the date the Industry Member was provided the LTID and it was associated with the account.
The ltidEndDate is the date the Industry Member became aware that the LTID or ULTID was no longer associated with the FDID.
Industry Members should make an effort to obtain an accurate reason as to why the LTID or ULTID is no longer associated to the FDID.
- FAQQ13. How should an Industry Member populate the ltidEffectiveDate if it did not record the date on which the LTID or ULTID became associated to the FDID within its systems?
Industry Members must record in their systems the date that an LTID or ULTID becomes associated with an FDID (“LTID Effective Date”). Some Industry Members may have to change current onboarding activities to ensure this information is obtained and recorded.
If an Industry Member has not recorded the LTID Effective Date, they may use the go-live date as the ltidEffectiveDate until the go-live date. Starting on the go-live date, Industry Members must record and report an accurate LTID Effective Date.
- FAQQ14. If an Industry Member erroneously ends an LTID to FDID association and needs to reestablish it, what should the ltidEffectiveDate be?
If an LTID to FDID association is ended erroneously and must be reestablished, the Industry Member should populate the ltidEffectiveDate with the original LTID Effective Date- not the date that the record reestablishing the association is submitted to CAT CAIS.