Short Position Reporting. FIF hosted two calls this past week for the Short Sales / Reg SHO / Short Reporting Working Group to continue the discussion of the implementation of short position reporting. The Working Group reviewed and made final edits to a supplemental letter to the SEC. FIF submitted this letter to the SEC. The Working Group reviewed a draft request to the SEC for an extension of the compliance date for Form SHO reporting. FIF submitted this extension request to the SEC. The Working Group discussed a summary of the October 24 FIF member call with the SEC. The Working Group...

UBS has successfully piloted a blockchain-based payment system, UBS Digital Cash, designed to improve the speed and efficiency of cross-border transactions for corporate and institutional clients. According to a story in MarketsMedia news, transactions with multinational clients and banks were successfully carried out, including domestic transactions within Switzerland and cross-border payments in US dollars, Swiss francs, Euros and Chinese yuan. In addition, the pilot also included the transfer of liquidity between various UBS companies. A key aim of the program is to improve the view of...

Kinexys by J.P. Morgan (formerly known as Onyx by J.P. Morgan) released a whitepaper examining the state of institutional on-chain privacy and identity, including Avalanche-based AvaCloud Privacy Solutions (APS) – Project EPIC: Fueling tokenized finance with on-chain enterprise privacy, identity and composability. The report, authored by Kinexys Digital Assets (formerly known as Onyx Digital Assets) and Kinexys Labs (formerly known as Onyx Blockchain Launch), evaluated working Proof-of-Concepts (PoCs) to assess the suitability of today’s blockchain-based privacy landscape for the...

MIAX Options will upgrade the 10G ULL extranet switches and related network analytics infrastructure beginning in March of 2025. The 10G ULL Extranet upgrade is intended to improve the network’s latency performance and precision of the analytics infrastructure’s timestamp measurements. The upgraded MIAX Options Extranet will be available in parallel with the existing MIAX Options Extranet from March 17, 2025, through April 30, 2025. All firms must establish new Cross Connects (CCs) and migrate their CC usage to the upgraded MIAX Options Extranet by April 30, 2025.

FIF is excited to announce our 2024 Year-End Holiday Event, hosted by Société Générale on December 3rd from 3:00 pm to 7:30 pm ET. Join us for insightful discussions on Regulatory Implementation Challenges, Retail Trading, Expanded Trading Hours, and FIF working group/comment letter updates. The event will take place at the offices of Société Générale at 245 Park Avenue, New York, NY. Registration and networking begins at 3 pm ET. The panel discussions will be from 4-6 pm ET, with refreshments and networking afterwards from 6-7:30 pm ET. FIF would like to thank Société Générale for hosting...

FIF has scheduled the next call for the OFR Repo Reporting Working Group for Monday November 4 at 11 am ET. The Working Group will continue to discuss the implementation of the new requirement to report non-centrally cleared bilateral repos to the Treasury Department’s Office of Financial Research.

FIF has scheduled the next call for the OFR Repo Reporting Working Group for Monday November 4 at 11 am ET. The Working Group will continue to discuss the implementation of the new requirement to report non-centrally cleared bilateral repos to the Treasury Department’s Office of Financial Research.

The next call for the Rule 606 Working Group will be on Monday November 4 at 2 pm ET. The Working Group will discuss a draft FIF letter to the SEC in response to verbal guidance from the SEC on how to calculate the percentage of orders routed to different venues for Rule 606(a) reporting. The Working Group will also review a question from FINRA relating to FINRA Rule 6470 (routing reports for OTC equities).

FIF has scheduled two calls for this week for the Short Sales / Reg SHO / Short Position Reporting Working Group. The first call will be on Tuesday November 5 at 11 am ET; the second call will be on Wednesday November 6 at 11 am ET. The Working Group will continue to discuss the implementation of short position reporting.