05 October, 2026
Working Group Updates 10/5/2026
05 October, 2026
- Digital Asset Securities Working Group. Shawn Sloves of Fundamental Interactions presented to the Digital Asset Securities Working Group on the recent exemption from exchange and dealer registration granted by the SEC for Tokenized Securities Venues and Liquidity Providers in an AMM Liquidity Pool. The Working Group discussed the regulations that would be applicable to broker-dealers that route orders and provide quotes to these venues.
- 24x7 Trading Working Group. The Working Group discussed recent testing updates from SIAC, UTP and the NYSE, rule changes by MEMX, the Cboe exchanges and the NYSE exchanges, CAT updates, and an updated list of open items. FIF members participated on a call with SEC representatives to discuss issues to be addressed in connection with the expansion of TRF operating hours.
- TRACE/RTRS Working Group. The TRACE/RTRS Working Group discussed a revised draft FIF letter to FINRA and the Federal Reserve Board relating to implementation of the amendments to the affiliate - principal transaction indicator, including reporting by Covered Depository Institutions. The Working Group discussed various reporting scenarios, including scenarios where the quantities of the two legs are not equal and scenarios that involve multiple back-to-back trades.
- Data & Technology Committee. The Data & Technology Committee reviewed capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. The spotlight presenters were John Ramsay and Chris Twomey of IEX, who discussed the launch of the IEX options exchange facility.
- CAT Monthly Update Working Group. The CAT Monthly Update Working Group reviewed guidance and updates from CAT LLC and FINRA CAT during the prior month. The Working Group reviewed the current areas of focus for FIF members and the current open issues relating to CAT reporting.
- CAT Transaction Reporting and CAT Reference Database Working Groups. FIF hosted a joint call for the CAT Transaction Reporting and CAT Reference Database Working Groups. The Working Groups discussed CAT Alert 2026-02 relating to CAT reporting requirements for expanded exchange trading hours. The Working Groups discussed updated Technical Specifications and FAQs published by FINRA CAT. The Working Groups discussed CAT timestamp granularity and clock synchronization. Working Group members provided an update to the Working Group on a call with FINRA relating to the replacement of EBS with a request response system.
Eduard Kotlyar