Meeting Details

• Date: Tuesday, January 13, 2009 @ 11 AM ET

Meeting Agenda

• Treasury Market Practices Group- Jim Hraska, Barcalys Capital
  • Timeline Document
  • Paper on Fails Charge
  • Frequently Asked Questions
• DTCC/FICC/NSCC Updates
  • NSCC - Explicit Fee Field (Bob Yodice, DTCC)- Pursuant to the industry need for the development of additional fields in the OTC contract MRO and print image files to support the Explicit Fee field in ACT submissions, NSCC will enhance its OTC input and output for processing of Explicit Fee transactions. Implementation is currently scheduled for late January 2009. See December 16, 2008 NSCC A# 6762
  • NSCC - RTTM - DRAFT of DTCC's Important Notice regarding RTTM's proposal to match municipal trades by EBS and the modifying of certain municipal trade submissions (see attached).
  • FICC - Proposed Charges on Fails - Request for Comments by January 21, 2009. See December 22, 2008 FICC# GOV139.08
  • Reminder : December 30, 2008 Original Important Notice B#4309-08 - Eliminate Physical Certificates Withdrawals for DRS Participating issues
• Cost Basis WG Discussion
  • See Attached Section 403 of the Emergency Economic Stabilization Act of 2008
  • Cost Basis Working Group Discussion around FIF Role
• FINRA Updates
  • OATS - FINRA released a new edition of the OATS Reporting Technical Specifications dated December 15, 2008 to accommodate additional changes to OATS for the February 2, 2009 release date. See OATS Technical Specifications Web Page
  • Customer Account Statements - FINRA Provides Guidance on Estimated Annual Income and Estimated Yield – See December 12, 2008 Regulatory Notice 08-77
• NYSE Updates - OTS Enhancements - According to the Dec 1, 2008, InfoMemo 08-62, NYSE Regulation has instituted corresponding changes reflecting these new order types and trading facilities in the updated OTS technical specifications. Implementation date is set for March 31, 2009 for both NYSE and NYSE Alternext. Updated Technical Specifications available here.
• OCC Updates
  • Changes to Cash Dividend Adjustment Policies - The OCC published an information memo on November 19, 2008 #25136 which provides an index of published OCC Information Memos relating to changes in contract adjustment policies
  • LOPR – Updated Reference Guide 1.1 dated December 31, 2008 available
• MSRB Updates - On January 2, 2009, the MSRB amended the filing to increase transparency of municipal Auction Rate Securities (“ARS”) and municipal Variable Rate Demand Obligations (“VRDO”). This amendment provides that the proposed amendments to Rule G-34 that relate to VRDO, consisting of subsection (c)(ii) thereof, that were originally proposed to become effective on January 30, 2009 would become effective on April 1, 2009.  The January 30, 2009 effective date for the proposed amendments to Rule G-34 that relate to ARS, consisting of subsection (c)(i) thereof, remains unchanged. See MSRB Notice 2009-01
• SEC Updates
  • Identifying Exchange on Options Confirms - December 29, 2008 Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX, Inc. Relating to Rule 1028 (Confirmations)
  • Notice of Filing of Proposed Rule Change by The NASDAQ Stock Market LLC Adopting a Limited Exemption from OATS Order Data Recordation Requirements for Registered Options Market Makers. See December 24, 2008 Release No. 34-59163
•   Clearing Initiatives (Credit Default Swaps)
  • DTCC - DTCC Strategic Initiatives Presentation to the FIF Multi-Client Back Office Committee on December 9, 2008
  • NASDAQ OMX - NASDAQ OMX Completes Investment in International Derivatives Clearing Group; IDCG Gains CFTC Approval to Clear Interest Rate Swap Futures. See December 22, 2008 Equity Trader Alert #2008 - 134
  • SEC - Order Pursuant to Section 36 of the Securities Exchange Act of 1934 Granting Temporary Exemptions from Sections 5 and 6 of the Exchange Act for Broker-Dealers and Exchanges Effecting Transactions in Credit Default Swaps. See December 24, 2008 Release No. 34-59165
  • LIFFE - LIFFE Administration and Management and LCH.Clearnet Ltd.  (Order Granting Temporary Exemptions Under the Securities Exchange Act of 1934 in Connection with Request of LIFFE Administration and Management and LCH.Clearnet Ltd. Related to Central Clearing Of Credit Default Swaps, and Request for Comments). See December 24, 2008 Release No. 34-59164