SLATE Working Group. FIF hosted two calls this past week for the SLATE Working Group. The Working Group discussed reporting the Loan ID, reporting for corporate actions, reporting for intra-day events, the SLATE feedback files, identifying the reporting party for various scenarios that involve an intermediary, and whether SLATE reporting applies to the scenario where a broker-dealer uses a principal long position to settle a customer short sale. Implementation of Regulation NMS Amendments. FIF hosted a call for the Equity Market Regulations Working Group. The Working Group discussed...

SLATE Working Group. FIF hosted two calls this past week for the SLATE Working Group. The Working Group discussed the applicability of SLATE to pay-for-hold transactions, reporting the par value field, reporting for corporate actions, the definition of intermediary, and reporting identifiers. The Working Group reviewed a list of implied SLATE validations prepared by an FIF member. The Working Group discussed reporting for corrections. The Working Group discussed reporting the sourceOfLoan and borrowerType fields. OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group...

SLATE Working Group. FIF hosted two calls this past week for the SLATE Working Group. During the first call, the Working Group discussed the applicability of SLATE to funding trades, requesting an extension for SLATE implementation, reporting the CRD and IARD fields, and cross-border scenarios. During the second call, the Working Group discussed SLATE validation of the lending fee, rebate rate and other fees fields, reporting the borrower type field, the timeframe for repairs, and the application of SLATE reporting to pay-for-hold transactions. OFR Repo Reporting Working Group. The...

SLATE Working Group. The SLATE Working Group continued its discussions of the reporting of termination events. The Working Group discussed reporting for scenarios where settlement of the opening or closing leg of a transaction is delayed or a transaction is cancelled because it does not settle on the date that the transaction is agreed. SEC Transition Working Group. The SEC Transition Working Group continued its discussion of issues and recommendations for FIF to raise with the incoming SEC Chair during 2025, including proposed enhancements to the rulemaking process and recommendations...

SLATE Working Group. The SLATE Working Group discussed the revised draft of the SLATE Participant Specification published by FINRA, including the definitions of required, conditional, optional and voluntary fields, the reporting of conditional and optional fields, the new Loan Termination event, the termDate and terminationDate fields, various termination and correction scenarios, and the need for FINRA to provide schemas and sample file submissions. Short Position Reporting. The FIF Short Sales / Reg SHO / Short Reporting Working Group continued its discussion of the implementation of...

Short Position Reporting. The FIF Short Sales / Reg SHO / Short Reporting Working Group continued its discussion of the implementation of short position reporting. The Working Group discussed next steps in response to the February 7 SEC Exemptive Order to extend the compliance date for Form SHO reporting. The Working Group continued its discussion on reporting for warrants and convertible bonds. SEC Transaction Working Group. The SEC Transition Working Group discussed a draft letter to the SEC on implementation issues for the SEC to address, including implementation issues relating to...

Short Position Reporting. The FIF Short Sales / Reg SHO / Short Position Reporting Working Group continued its discussion of the implementation of short position reporting. The Working Group discussed identifying Threshold A and Threshold B securities, the January 30 updates to the Form SHO Technical Specifications, a rejection received by a firm when reporting two securities with the same issuer and class name and different CUSIPs, reporting for January 9, and the jurisdictional scope of reporting. Rule 605 Working Group. The Rule 605 Working Group continued its discussion of the...

OFR Repo Reporting. The OFR Repo Reporting Working Group discussed a draft submission by FIF to the OFR that identifies overnight and intra-day repos executed by a foreign subsidiary that would not be reportable to the OFR. The Working Group discussed reporting the Security Value data element for mortgage-backed securities with an adjustable rate coupon and reporting the Security Value at Inception data element. Short Position Reporting. The FIF Short Sales / Reg SHO / Short Position Reporting Working Group continued its discussion of the implementation of short position reporting. The...

Webinar on Trading Risk Controls and Reg SCI. FIF hosted a webinar on Trading Risk Controls and Reg SCI. The moderator for the panel was Erin Clemens of StoneX. The panelists were William Barbera of the Schulte Roth law firm, Chris Boldt of Interactive Brokers, Doug Craig of Fidessa, and Jim Dolan of Kezar Trading. FIF would like to thank the moderator and panelists for sharing their expertise on these topics and for the informative and lively discussion during the panel. Short Position Reporting. FIF hosted two calls this past week for the Short Sales / Reg SHO / Short Reporting Working...