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search results for “Cais"
- FAQQ25. If my firm is a broker-dealer (CRD) that uses a Reporting Agent to report into CAT CAIS, does my firm need to certify separately if we have CAIS-reportable activity?Yes, all broker-dealers will be required to be certified in order to gain access to the CAIS Production environment. The certification may be supported by their Reporting Agent. See the Industry Member CAIS Onboarding Guide for details on production readiness certification.
- FAQQ29. Do proprietary trading firms that do not handle customer orders have an obligation to report to CAT CAIS?Yes. Proprietary trading firms must submit account information related to their own accounts to the CAT CAIS system. If the proprietary trading firm is itself a Large Trader, it is required to report its own accounts beginning with the LTID Phase of CAIS if it has Reportable Activity.
- FAQQ16. Can an Industry Member submit the same CAIS record every business day? Or should the Industry Member submit only a delta record? For example, if a record is submitted on T and nothing changes, can the same record be submitted on T+1, T+2, etc.? Or should the Industry Member only resubmit the record if a required data element changes?Industry Members may resubmit the same record each business day but are not required to. If an Industry Member resubmits an identical record to one that already exists in CAT CAIS, CAT CAIS will overwrite the previous record with the new record with the same information. For the LTID Phase…
- FAQQ68. How must Industry Members report an FDID Record to CAIS in the scenario where the Authorized Trader is a government employee of a U.S. state, county or municipality and acting in the capacity of a guardian or conservator for a minor or incapacitated person, and the government employee Authorized Trader does not provide a year of birth or Input Identifier (such as a social security number) citing exemptions from the definition of “customer” under the Customer Identification Program (“CIP”) Rules?In this situation, the minor or incapacitated person must be reported to CAIS with a role of ‘TRDHOLDER’ with the doingBusinessAs field populated with the value of ‘PUBLIC ADMINISTRATOR’. The Authorized Traders Names List must be included with the submission, and include the name of the government…
- FAQQ45. FAQ Q44 states that an Industry Member must report all addresses at the Customer-level and Account-level if such address information is reasonably available. If an Industry Member happens to maintain multiple addresses for an Account and/or Customer, that are not directly used for routine account and/or customer communications, are they still required to be reported to CAIS?As noted in FAQ Q44, if multiple addresses are associated with a particular account, then Industry Members must submit these additional addresses to CAIS if such address information is reasonably available. Further, FAQ Q44 states that in instances where an Industry Member maintains separate…
- FAQM16. FAQ M1 identifies certain limited circumstances where a change/replacement in Firm Designated ID (FDID) value associated with a particular trading account or Relationship ID would be permissible. If an Industry Member changes an FDID due to one of these limited circumstances prior to Full CAIS, what additional steps are required?As stated in FAQ M1, given the purpose of the Firm Designated ID (“FDID”) under the CAT NMS Plan, a change/replacement in the Firm Designated ID (FDID) value associated with a particular trading account would only be permissible in certain limited circumstances, such as system migration, change of…Topics
- FAQThe CAT contains information about orders, quotes, and transactions for all NMS Securities (i.e., exchange-listed equities and options), as well as OTC Equity Securities across U.S. markets, including related events such as origination, modification, cancellation, routing, and execution, reported…Topics
- FAQThe CAT NMS Plan requires that Industry Members report addresses at the Customer level. In response to industry feedback that broker-dealers generally maintain addresses at the account level rather than at the Customer level, Participants implemented a temporary technical solution that allowed a…
- FAQQ42. A broker-dealer systematized a Customer’s account information on a specific date, but the new account form was dated with a date prior to the systematized date. Is it permitted for the broker-dealer to report the later systematized date as the fdidDate on the related FDID Record?Prior to the CAT CAIS Implementation date (May 31, 2024), in this case where there are multiple dates associated with an account, CAT Reporters should report the fdidDate that is reasonably available. See CAT NMS Plan, Article 1, Section 1.1 definition of “Account Effective Date”. For example, if a…
- FAQT7. Clarifications to the descriptions of the ‘AUTHREP’ and ‘AUTH3RD’ values for the role field were published in version 2.0 r8 of the CAT Reporting Customer and Account Technical Specifications for Industry Members-Full CAIS (“Technical Specifications”) on April 8, 2022. The revised descriptions will require a change to the value my firm must populate in the role field. Given the time constraints between publication and the Production Readiness Certification Deadline for Full CAIS (July 25, 2022), is my firm required to change the ‘AUTH3RD’ value to ‘AUTHREP’ for FDID Records my firm intended to use to conduct testing for production readiness for Full CAIS reporting?No. If an Industry Member or CAT Reporting Agent coded a role of ‘AUTH3RD’ for the scenario where the reporting Industry Member itself has authority to place orders for the Account without prior approval of the account holder(s) and is not the holder of the account, the Industry Member and/or its…