SLATE Working Group. The SLATE Working Group discussed the applicable date to be used by SLATE to validate security eligibility, the ordering of loan events in a file, reporting agent requirements and how firms are treating non-responses by the SEC and FINRA to issues and questions raised by FIF members. The Working Group discussed lists of high-priority SLATE issues from FIF members. The Working Group continued its discussion of the next draft letter to the SEC and FINRA, including a key issues list, a request for a temporary exemption for reporting by Covered Persons that are not U.S....

SLATE Working Group. The SLATE Working Group discussed reporting when the collateralType is mixed or none, reporting the sourceOfLoan field, and the security files to be made available by FINRA. The Working Group continued its discussion of the next draft letter to the SEC and FINRA, including a scenario where a loan is cancelled or terminated, reporting the fileRecordId field, reporting the clientUniqueLoanId field, reporting the rebateRate for a transaction that has cash collateral with multiple currencies, and FINRA’s assignment of MPIDs. 24x7 Trading Working Group. The 24x7 Trading...

SLATE Working Group. The SLATE Working Group discussed the July 28 SEC Order to extend the initial SLATE reporting date to September 28, 2026. The Working Group discussed the submission of SLATE reports by service bureaus, connectivity to FINRA, FINRA responses times, a scenario involving US trading support personnel inputting loan details on behalf of a foreign affiliate, SLATE testing, repo agreements, and the requirement to report if a loan is from inventory.  24x7 Trading Working Group. The 24x7 Trading Working Group discussed a revised draft of an FIF letter to the SEC relating...

FIF Trade Surveillance Webinar. FIF hosted a webinar on Trade Surveillance on Wednesday July 23. FIF would like to thank Holly Dito of Daiwa (moderator for the webinar)  and Ted Karn of The Karn Group, Derek Lacarrubba of the KL Gates law firm, Chris Montagnino of Jordan and Jordan, and Scott Richard of S3 (panelists for the webinar) for their thoughtful and engaging discussion of these issues. SLATE Working Group. Members of the SLATE Working Group responded to surveys relating to 2026 planning and budgeting for SLATE and whether they plan to submit to SLATE in batch or...

SLATE Working Group. The SLATE Working Group discussed FINRA’s assignment of MPIDs, allowing firms to report based on LEIs instead of MPIDs, reporting when there is a change in the clientUniqueLoanId, and reporting scenarios where a New Loan Event is rejected. 24x7 Trading Working Group. The 24x7 Trading Working Group discussed a recent rule filing by FINRA to extend the hours of operation of the TRFs in connection with the expansion of exchange trading hours. The Working Group continued its discussion of a draft FIF letter to the SEC relating to extended exchange trading hours,...

SLATE Working Group. The SLATE Working Group completed its discussion of the June 27 updates to the SLATE Participant Specifications. The Working Group discussed reporting the fileRecordId field, reporting the sourceOfLoan field, reporting for matured securities, reporting of intermediary activity, the definition of fully-paid securities, the SLATE security list, reporting the fee and rebate fields for the new collateral type values, and SLATE feedback. 24x7 Trading Working Group. The 24x7 Trading Working Group continued its discussion of a draft FIF letter to the SEC relating to...

SLATE Working Group. The SLATE Working Group discussed the June 27 updates to the SLATE Participant Specifications, including the requiredPctCollateral field, the securityIndicator and securityIdentifier fields, the delivery timeframes for outbound files, the updated error codes, and the file ingestion feedback. OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group discussed the time for calculating the Securities Value at Inception. The Working Group discussed reporting for a scenario that involves substitution of securities with a different currency. The Working Group...

SLATE Working Group. The SLATE Working Group discussed the current status of the SLATE compliance date. The Working Group discussed reporting for the scenario where a loan is cancelled on the day of booking. The Working Group discussed rounding and truncation of numeric fields. The Working Group discussed the reporting of the sourceOfLoan field. Short Position Reporting. FIF hosted a call for the Short Sales / Reg SHO / Short Reporting Working Group to discuss a draft letter to the SEC relating to the implementation of short position reporting. The draft letter requests an extension of...

SLATE Working Group. The SLATE Working Group discussed final changes to an FIF letter to the SEC and FINRA relating to the implementation of SLATE reporting. The Working Group discussed reporting the equityShares and parValue fields, reporting of the various MPID fields, reporting price changes, reporting the securityIdentifier field, and reporting for block trades and allocations. OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group reviewed a draft letter to the Treasury Department’s Office of Financial Research (“OFR”) relating to the reporting of repos where the...