OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group discussed issues and questions raised by FIF members relating to the implementation of the new requirement to report non-centrally cleared bilateral repos to the Treasury Department’s Office of Financial Research. The Working Group discussed reporting the Minimum Maturity Date for open repos, reporting for a scenario where a parent Category 2 covered reporter guarantees the obligations of a subsidiary Category 1 covered reporter, the impact of margin on the Current Cash Amount, reporting repos on the end date, and the...

FIF Best Ex Webinar. FIF hosted a webinar on best execution. The moderator for the webinar was Chris Montagnino of Jordan & Jordan. The panelists were Ben Calev of BXS, Mark Davies of S3, and Ted Karn of The Karn Group. FIF would like to thank the moderator and panelists for their participation in the webinar. OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group completed its review and discussion of the OFR’s September 27 FAQ updates. The Working Group reviewed a September 27 note from the OFR relating to the updated FAQs. The Working Group discussed reporting the...

TRACE Working Group. The TRACE Working Group discussed the SEC’s recent approvals of the FINRA and MSRB rule filings to reduce the reporting timeframe for trades reported to TRACE and RTRS, subject to exceptions for certain manual activity and firms with limited trading activity. The Working Group discussed the implementation timetable. The Working Group discussed the scenario where a firm has a system issue that prevents automated reporting, and the firm automatically reports after resolving the system issue. The Working Group discussed RTRS providing test symbols.  OFR Repo...

OFR Repo Reporting Working Group. FIF provided an update on a call with the Treasury Department’s Office of Financial Research (OFR) relating to implementation of the new requirement for reporting of non-centrally cleared bilateral repos. The OFR Repo Reporting Working Group discussed calculating the outstanding commitment for inter-affiliate transactions, calculating the outstanding commitment for the end date of a repo, reporting the minimum maturity date for terminated open repos, reporting for Rule 15a-6 transactions, and reporting the floating rate reset frequency. The Working Group...

Short Position Reporting. The Short Sales / Reg SHO / Short Reporting Working Group continued its discussion of the implementation of the SEC’s new requirement for reporting of short positions. OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group discussed comments and questions for the OFR relating to the rejection of file and record submissions, reporting the securities value at inception, transaction by a U.S. branch of a foreign bank, reporting the start date and end date fields, reporting by an investment adviser, reporting the floating rate reset frequency...

OFR Repo Reporting Working Group. FIF hosted two calls this past week for the OFR Repo Reporting Working Group. During the first call, the Working Group continued its review and discussion of a draft letter to the OFR relating to reporting for bunched trades and allocations and reporting for subsidiaries. During the second call, the Working Group finalized this letter. The Working Group also discussed issues and questions from FIF members relating to the OFR FAQs, reporting the rate field and reporting for a U.S. branch of a foreign bank. Financial Data Transparency Act Working Group....

OFR Repo Reporting Working Group. FIF hosted two calls this past week for the OFR Repo Reporting Working Group. During the first call, the Working Group reviewed and discussed the FAQs published by the OFR on August 30, including reporting for bunched trades and allocations and reporting for subsidiaries. During the second call, the Working Group discussed a draft FIF letter to the OFR relating to reporting for bunched trades and allocations and reporting for subsidiaries. FINRA Trade Reporting Notice on Fractional Share Transactions. FIF hosted a call for the Data and Technology...

FIF Data and Technology Committee. The Data and Technology Committee reviewed capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. The spotlight presenter was Olivier Cousin from Exegy, who discussed the Exegy AMD Partnership on Tick to Trade Latency. Please find the meeting materials here and the full capacity report here. FIF Front Office Committee. The Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges.Please find the August agenda here. 

FIF OFR Repo Reporting Working Group. FIF hosted two calls this past week for the OFR Repo Reporting Working Group. The Working Group discussed reporting for a foreign affiliate, the maximum file size and the definition of guarantee. The Working Group reviewed a matrix of cross-border scenarios. The Working Group discussed the exclusion of government securities dealers and government securities brokers for determining whether a firm qualifies as a Category 2 Covered Reporter. The Working Group completed its review and discussion of a draft supplemental letter to the OFR. FIF submitted...