Since clearing firms rely on their correspondent firms to provide Customer information required for CAIS reporting, can a clearing firm, reporting its version of a Customer on an FDID record, replicate the attribute value for certain required data elements as provided by its correspondent firm?
Yes. When reporting its version of the Customer Record, the clearing firm may replicate the attribute value for certain required data elements as provided by its correspondent firm. Specifically, when the correspondentCRD field is populated, the clearing firm may report a role of ‘AUTHREP’ for an Authorized Trader rather than “flipping” the role to ‘AUTH3RD’ on the clearing firm’s version of the Customer Record. Additionally, when the correspondentCRD field is populated, the clearing firm may report a customerType of ‘EMPLOYEE’ rather than “flipping” the customerType to ‘OTHBKR’ on the clearing firm’s version of the Customer Record.
Archive
Yes