Date

13 Jul 2021

Attendees

Agenda

1) Use Case reminder

2) Where we are on our road map.

3) Open Action Items

4) JIRA Issues Review - https://jira.edmcouncil.org/projects/DER/issues/DER-10?filter=allopenissues

5) Todays content discussion.

6) For next week.

Proceedings:

Today we looked at DER-70, to address the missing 'off-facility' term in our exchange codes. In fact, this isn't the only one we are missing from the FIX codes for trading venues. We want to add: (1) 'off-market', with a synonym of 'off-facility' and synonym of 'off-book' for the cases cited by the CFTC, (2) 'auction market' for those that are either periodic or on-demand auction markets, (3) 'dark pool' for those that are dark markets, and (4) 'quote-driven market' for those that apply to that category (i.e., with QUOTE or RFQ in their name excluding QUOTED FUNDS. Addressing this issue also involved moving 'designated contract market' and 'swap execution facility' from DER to the FBC markets ontology.

Articles on the distinctions between OTC markets and exchanges:

https://www.yahoo.com/now/otc-markets-different-exchanges-135333475.html

OTC Markets is not an exchange, though it does have 3 listings (markets?) (OTCQX, OTCQB, Pink).
It is a collection of brokers that satisfy orders either themselves or through communicating via a ECN called OTC Link (also called OTC Link ATS).
Which also has a LLC https://www.sec.gov/fast-answers/answerspinkhtm.html

OTCQX also lists ADRs for foreign companies primarily listed on home exchanges.

Also note that for credit ratings, we need to add https://www.sec.gov/fast-answers/answersnrsrohtm.html.

Decisions:

Action items

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