Customer and Customer Account Information. In addition to the submission of order and trade data, broker-dealer CAT Reporters must also submit customer information to the CAT so that the order and trade data can be matched to the specific customer.25 SEC Rule 613(c)(7) sets forth data recording and reporting requirements that must be included in the CAT NMS Plan. Under SEC Rule 613(c)(7)(i)(A), the CAT NMS Plan must require each CAT Reporter to record and report “Customer-ID(s) for each customer” when reporting to the CAT order receipt or origination information.26 When reporting the modification or cancellation of an order, the rule further requires the reporting of “the Customer-ID of the 19 RFP Question 49. 20 RFP Questions 59-60. 21 RFP Question 62. 22 RFP Question 63. 23 SEC Rule 613 and Sections 6.3 and 6.4 of the CAT NMS Plan permit certain other information to be reported by 8:00 a.m. Eastern Time on the Trading Day following the day the CAT Reporter receives the information. See SEC Rule 613(c)(4), (c)(7)(vi)-(viii). 24 SIFMA’s recommendations to the Participants regarding the CAT indicates support for the ability of Data Submitters to submit data in batch or near-real-time reporting. See SIFMA Recommendations, at 55. 25 As noted above, the term “customer” means “(i) [t]he account holder(s) of the account at a broker-dealer originating an order, and (ii) [a]ny person from whom the broker-dealer is authorized to accept trading instructions for such account, if different than the account holder(s).” SEC Rule 613(j)(3). 26 SEC Rule 613(c)(7)(i)(A). Person giving the modification or cancellation instruction.”27 In addition, SEC Rule 613(c)(8) mandates that all CAT Reporters “use the same Customer-ID . . . for each customer and broker-dealer.”28 For purposes of SEC Rule 613, “Customer-ID” means, “with respect to a customer, a code that uniquely identifies such customer for purposes of providing data to the central repository.”29 Also, SEC Rule 613(c)(7)(viii) requires that, for original receipt or origination of an order, CAT Reporters report “customer account information,” which is defined as including “account number, account type, customer type, date account opened, and large trader identifier (if applicable).”30 After considering the requirements of SEC Rule 613 with respect to recording and reporting Customer-IDs, Customer Account Information, and information of sufficient detail to identify the Customer as well as industry input and the Commission’s reasons for adopting these requirements...
Customer and Customer Account Information. In addition to the submission of order and trade data, broker-dealer CAT Reporters must also submit customer information to the CAT so that the order and trade data can be matched to
Customer and Customer Account Information. In addition to the submission of order and trade data, broker-dealer CAT Reporters must also submit customer information to the CAT so that the order and trade data can be matched to the specific customer.25 SEC Rule 613(c)(7) sets forth data recording and reporting requirements that must be included in the CAT NMS Plan. Under SEC Rule 613(c)(7)(i)(A), the CAT NMS Plan must require each CAT Reporter to record and report “Customer-ID(s) for each customer” when reporting to the CAT order receipt or origination information.26 When reporting the modification or cancellation of an order, the rule further requires the reporting of “the Customer-ID of the
