Rule 605 Working Group. The Rule 605 Working Group discussed the requirement for a retail broker that executes fractional share trades as principal to prepare a separate Rule 605 report for the fractional share trading activity. The Working Group discussed whether GTC orders received prior to the compliance date that are still open as of the compliance date should be reportable. Reg NMS: Minimum Pricing Increments and Access Fee Caps. FIF hosted a joint call for the Data and Technology Committee and the Equity Market Regulations Working Group to discuss the recent DC Circuit court...

SLATE Working Group. FIF hosted two calls for the SLATE Working Group this past week. During the first call, the Working Group discussed the reporting of null values, SLATE reporting for collateral pledges, reporting based on CUSIP instead of ticker symbol, rehypothecation, reporting of loans by the Federal Reserve, and post-maturity correction of a bond that was loaned prior to maturity. The Working Group also discussed current FIF member implementation plans given the recent court decision to remand SLATE back to the SEC. During the second call, the Working Group continued its...

SLATE Working Group. FIF hosted two calls for the SLATE Working Group this past week. During the first call, the Working Group continued its discussion of end-of-day reporting based on the last reportable event. During the second call, the Working Group discussed issues to raise with the SEC, including SLATE billing, reporting LEIs instead of MPIDs, the definition of when a loan has been effected, reporting for trades that are novated to the OCC, the borrowerType field, removing the sourceOfLoan field, removing the loanCloseOutFTD field, reporting for cross-border transactions, reporting...

SLATE Working Group. FIF hosted two calls for the SLATE Working Group this past week. The Working Group continued the discussion of end-of-day reporting based on the last reportable event. The Working Group discussed a draft FIF letter to FINRA relating to end-of-day reporting. Front Office Committee; Tokenized Securities. The Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. The FIF Committee Co-Chairs reviewed the recent rule filing by Nasdaq for tokenized securities. Tax Information Reporting Working...

SLATE Working Group. FIF hosted two calls for the SLATE Working Group this past week. During the first call, the Working Group continued the discussion of the September 15 FIF member call with FINRA. During the second call, the Working Group reviewed a draft FIF letter to the SEC and FINRA relating to SLATE implementation. The draft letter discusses end-of-day reporting on a cumulative basis. The Working Group discussed whether firms should report all events or only a cumulative end-of-day basis. Rule 605 Working Group. FIF members provided an update on a September 17 meeting with SEC...

SLATE Working Group. SLATE Working Group members updated the full Working Group on discussions with FINRA relating to SLATE reporting. The Working Group discussed recommendations to the SEC and FINRA on how cumulative end-of-day reporting should be implemented. The Working Group discussed the current actions that firms are taking relating to SLATE implementation in response to the 5th Circuit court decision remanding the securities loan reporting back to the SEC. Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates...

SLATE and Short Sale Working Groups. FIF hosted a joint call for the SLATE and Short Sales / Reg SHO / Short Reporting Working Groups. The Working Groups discussed next steps in response to the September 5 statement published by SEC Chairman Atkins relating to the securities loan reporting and short position reporting rules. SLATE Working Group. In addition to the joint Working Group call described above, FIF hosted a call for the SLATE Working Group only. The Working Group discussed recommendations to raise with FINRA to address current challenges with SLATE reporting. SIP Odd Lots....

SLATE and Short Sale Working Groups. FIF hosted a joint call for the SLATE and Short Sales / Reg SHO / Short Reporting Working Groups. The Working Groups discussed FIF scheduling a call with the SEC to request a stay of the Securities Loan Reporting and Short Position Reporting rules given the decision by the 5th Circuit to remand these rules back to the SEC. The Working Groups discussed a request by FINRA for a call with FIF members to discuss comments previously submitted by FIF relating to SLATE reporting. SIP Odd Lots. FIF hosted a joint call for the Data and Technology Committee and...

SLATE and Short Sale Working Groups. FIF hosted a joint call for the SLATE and Short Sales / Reg SHO / Short Reporting Working Groups. Ignacio Sandoval of the Orrick law firm reviewed the recent decision by the 5th Circuit Court of Appeals to remand the Securities Loan Reporting and Short Position Reporting rules back to the SEC. The Working Groups discussed FIF submitting a letter to the SEC to request an extension of the compliance dates for both rules given the court’s decision. 24x7 Trading Working Group. The 24x7 Trading Working Group discussed the role of TRF reporting to reduce...