14 April, 2025
Working Group Updates 4/14/2025
14 April, 2025
- SLATE Working Group. FIF hosted three calls this past week for the Securities Lending Transparency (SLATE) Working Group. The Working Group discussed issues and questions from FIF members relating to lending scenarios involving a non-US affiliate, cross-border scenarios, prime broker scenarios, the SLATE feedback process, reporting for terminations, reporting for a loan with no collateral, FINRA’s provision of a consolidated securities list, reporting when there are multiple modifications on the same day, reporting the quantity loaned, reporting for a loan that is cancelled on the same day, the scenario where a platform is used for pre-contractual matching, forward-start loans, reporting the borrower type, and reporting for the SLATE launch date. The Working Group continued its discussion of a draft FIF letter to the SEC and FINRA relating to the implementation of SLATE reporting.
- ICE Clear Credit Treasury Clearing Service. Helen Fermor and Ian Springle from ICE Clear Credit discussed their new Treasury clearing service, including participant categories, the clearing process for done-with and done-away trades, ICE Link trade capture workflows, payment workflows, margining, integration and testing.
- CAT Monthly Working Group. The CAT Monthly Update Working Group reviewed guidance and updates from the CAT Plan Participants and FINRA CAT on CAT Transaction Reporting, CAT CAIS and CAT billing during the prior month. The Working Group reviewed the current areas of focus for FIF members and the current open issues for CAT Transaction Reporting, CAT CAIS reporting and CAT billing.
- CAT PII. FIF hosted a joint call for the CAT CAIS and CAT Transaction Reporting Working Groups. The Working Groups discussed a revised draft FIF comment letter on amendments to the CAT NMS Plan proposed by the CAT Plan Participants to remove PII from CAT. The FIF comment letter also discusses the need to retire EBS. FIF submitted this comment letter to the SEC. The Working Groups reviewed a draft question for FINRA CAT relating to Material Inconsistencies. FIF submitted this question to FINRA CAT.
- CAT Transaction Reporting Working Group. The Working Group discussed implementation of the new Bona Fide Market Maker flag. The Working Group discussed the CAT fee dispute resolution process. The Working Group reviewed the change from NYSE Chicago to NYSE Texas. The Working Group discussed the status of the FIF exemption request relating to rep order linkage.
Eduard Kotlyar