The next call for the TRACE Working Group will be on Thursday October 31 at 2 pm ET. The Working Group will continue its discussion of the recent approvals by the SEC of the FINRA and MSRB rule filings that provide for one-minute reporting to TRACE and RTRS, subject to exceptions for manual activity and firms with limited trading activity.

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.

FIF has scheduled the next call for the Rule 605 Working Group for Tuesday November 5 at 2 pm ET. The Working Group will discuss responses from the SEC to the June 2024 FIF letter relating to the implementation of the Rule 605 amendments.

OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group discussed issues and questions raised by FIF members relating to the implementation of the new requirement to report non-centrally cleared bilateral repos to the Treasury Department’s Office of Financial Research. The Working Group discussed reporting for clients that do not have an LEI, the current validation that the Floating Rate Reset Frequency must be positive, the definition of the Haircut data element, and feedback from the OFR on test files. The Working Group reviewed and made final edits to a letter to the OFR...

The New York Stock Exchange announced plans to extend weekday trading on its NYSE Arca equities exchange to 22 hours a day. According to a story in The Trade news, the extended trading would take place from 1:30 am to 11:30 pm Eastern Time on all weekdays, excluding holidays, subject to regulatory approval. The NYSE will also seek support for extended trading from the U.S. securities information processors. NYSE Group’s NYSE Arca is a fully electronic exchange that ranks as one of the top U.S. exchanges for listing and trading exchange-traded funds. All U.S.-listed stocks, ETFs and...

Broadridge Financial Solutions has confirmed its preparedness to support new OTC derivatives reporting requirements by the Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC). According to a story in The Trade news, Broadridge added that it is also expanding its offerings to include other updated regulatory regimes and asset classes, including the Canadian rewrite scheduled for July 2025 and the Hong Kong rewrite slated for September 2025. “We anticipate that the regulatory wave will continue, and we are proactively working on behalf of our...

UK-based asset manager Artemis has selected Northern Trust to provide outsourced trading services for its equities and derivatives activity, effective January 2025 according to a story in The Trade news. The active investment house with $33 billion offers a range of funds that invest in the UK, Europe, the US and around the world, and selected Northern Trust for a range of asset services earlier this year. Northern Trust will support all trading activity for Artemis’ equity funds under management and all related over-the-counter and exchange-traded derivatives. The appointment follows a...

Morgan Stanley is expanding the use of OpenAI-powered, generative artificial intelligence tools to its investment banking and trading division, according to a story on CNBC. The firm, which launched an AI assistant based on OpenAI’s ChatGPT technology to its wealth management advisors in early 2023, began rolling out another version called AskResearchGPT this summer in its institutional securities group. The tool lets users extract answers from across the universe of Morgan Stanley’s research — including stocks, commodities, industry trends and regions — collapsing what could...

FIF has scheduled two calls this week for the Short Sales / Reg SHO / Short Position Reporting Working Group to continue the discussion of the implementation of Form SHO reporting. The first call will be on Monday October 21 at 10 am ET; the second call will be on Wednesday October 23 at 11 am ET. During the Monday call, the Working Group will discuss the draft Form SHO specifications published by the SEC on October 16. During the Wednesday call, a representative from ICE Data Services will discuss an ICE data product relating to Form SHO reporting.