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FINRA recommends FIX Protocol as replacement for CTCI clients

FIX Protocol replaces Computer to Computer (CTCI) for reporting to Trace and Over- the -Counter Reporting (ORF) effective February 3, 2020. The final production test is January 11, 2020. Any questions regarding this notice should sent to FINRA Product Management or call (866)899-2107. Please click below for details: https://www.finra.org/filing-reporting/orf/final-2019-ctci-migration-production-test-trace-and-orf

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FIX Extension Packs

Recent extensions to the protocol, initiated by working groups, have completed Global Technical Committee review and approval and have been published on the website, please click here.  The below extension packs add new functionality to the standard and are available for download. EP250 – Share Trading Obligation Extension (Brexit Working Group) EP251 – APAC Client...

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Brexit Working Group

Addresses potential changes related to a no-deal Brexit scenario to address trade reporting and Share Trading Obligations (STO) across EU and UK domiciles. • STO Indicator • SI Jurisdiction • Reported Jurisdiction Please click here to view the guidelines. Please click here to view the Public Comment post to address the gaps identified for Share...

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Post Post-Trade Confirmation Payments

The post trade working group has recently worked to address the heavily manual and fragmented process for periodic payments and cash flow operations management.  Through a collaborative effort with industry participants working  group members produced recommended practices and submitted extensions to the FIX Protocol.  Please click here to view the recommended practices and here to...

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Consolidated Tape Working Group

The EU and ESMA are keen on pursuing the creation of a consolidated tape.  ESMA has produced a consultation document which poses a number of questions around the provision of a consolidated tape and the technical standards that could be adopted. The first task for this working group will be to formulate a response to...

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MMT

The Market Model Typology (MMT) was developed to provide data standardization across financial markets.  The latest version of MMT delivers efficient operational solutions for fulfilling trade flagging requirements raised in MiFID II RTS1 and RTS2. Click here to view more details regarding the MMT standard.

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CAT Implementations

Guidance for CAT Implementations – FIX and FIF members collaborated to provide guidance for firms implementing CAT NMS Plan (Phase 2A-Equities) CAT-FIX Mappings Extension Packs: Gaps to address data reporting requirements by the CAT NMS Plan: EP253 Firm Designated Identifier(FDID): standardized use of FIX to communicate FDIDs: EP248  

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FIX Orchestra

FIX Orchestra was conceived as machine readable rules of engagement between counterparties. Orchestra is intended to cut time to onboard counterparties and improve accuracy of implementations. FIX Orchestra Version 1.0 Draft Standard is now available (click here).  Potential adopters are strongly encouraged to begin working with the Draft Standard.