TRACE/Fixed Income Working Group. The FIF TRACE/Fixed Income Working Group reviewed and made final edits to the FIF comment letter on the recent FINRA rule filing with the SEC to expand TRACE reporting to cover transactions in US dollar denominated foreign sovereign bonds. The Working Group discussed additional questions from FIF members relating to TRACE reporting by Covered Depository Institutions, which takes effect on September 1, 2022. FIF and the FIF TRACE Co-Chairs participated on a call with FINRA representatives to discuss open questions on TRACE reporting by Covered Depository...

TRACE/Fixed Income Working Group. The FIF TRACE/Fixed Income Working Group reviewed a draft comment letter on the recent FINRA rule filing with the SEC to expand TRACE reporting to cover transactions in US dollar denominated foreign sovereign bonds. The Working Group discussed recent FAQ updates from FINRA relating to TRACE reporting by covered depository institutions, which takes effect on September 1, 2022. Securities Lending Transparency Working Group. The Securities Lending Transparency Working Group discussed a request that FIF received from SEC staff members to discuss the comment...

Rule 606 Working Group. The FIF Rule 606 Working Group discussed recent guidance from FINRA to two industry members requiring additional detail in the Rule 606(a) material disclosures. The Working Group also discussed current FIF member efforts to implement Rule 606(a) options look-through. TRACE/Fixed Income Working Group. The FIF TRACE/Fixed Income Working Group discussed the recent FINRA rule filing with the SEC to expand TRACE reporting to cover transactions in US dollar denominated foreign sovereign bonds. The Working Group discussed the implementation status of the rule recently...

FIF Compliance Working Group Call Focused on Trade Surveillance. The Compliance Working Group hosted a call focused on trade surveillance issues. FIF Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Please find the May agenda here.  FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group reviewed the May 16, 2022 updates to the Phase 2d Technical Specifications. The Working Group discussed the new Proposed CAT NMS Amendment providing for an Alternative...

FIF TRACE/Fixed Income Working Group. The TRACE/Fixed Income Working reviewed new FAQs published by FINRA relating to TRACE reporting by covered depository institutions. The Working Group reviewed guidance provided by the Federal Reserve Board to an FIF member on this topic. FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group reviewed draft FIF member comments and questions for FINRA CAT relating to DAY orders in non-US equities executed on T+2 or after, reporting the tradingSession for NAV orders, reporting the RLO and IDX handlingInstructions...

CAT Monthly Update Working Group. The CAT Monthly Update Working Group reviewed guidance and updates from the SROs and FINRA CAT on CAT transaction reporting and CAT CAIS reporting during the prior month. The Working Group also reviewed the current areas of focus for FIF members and the current open issues for CAT transaction reporting and CAT CAIS reporting. FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed issues and questions from FIF members relating to the tradingSession value for reporting NAV orders, a new linkage file to be...

FIF Short Sales/Reg SHO/Short Interest Reporting Working Group. The FIF Short Sales/Reg SHO/Short Interest Reporting Working Group completed its review of a comment letter on the SEC’s recent proposal to mandate a new buy to cover order marker. FIF Front Office Committee. The FIF Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. Please find the April agenda here. Data and Technology Committee. The FIF Data and Technology Committee reviewed capacity, latency and volume data for the prior month for the...

FIF Short Sales/Reg SHO/Short Interest Reporting Working Group. The FIF Short Sales/Reg SHO/Short Interest Reporting Working Group continued its review of a draft comment letter on the SEC’s recent proposal to mandate a new buy to cover order marker. FIF intends to submits this comment letter to the SEC on April 26. FIF Back Office Committee. The FIF Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Please find the meeting materials here. FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting...

FIF Rule 606 Working Group. The FIF Rule 606 Working Group discussed recent guidance from the SEC staff relating to Rule 606 reporting for notional value orders that include fractional shares. The Working Group provided an update on a recent FIF discussion with FINRA relating to FINRA’s proposal to require Rule 606-type disclosures for routing in OTC equities and how reporting would apply for OTC Link scenarios.    FIF Short Sales/Reg SHO/Short Interest Reporting Working Group. The FIF Short Sales/Reg SHO/Short Interest Reporting Working Group continued its review of a draft...