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Working Group Updates 7/6/2026

24x7 Trading Working Group. The 24x7 Trading Working Group discussed the recent rule filings by NYSE Arca and Nasdaq relating to overnight regulatory halts for corporate actions and associated FAQs published by the NYSE and Nasdaq. The Working Group continued its discussion of registration requirements for overnight trading and requesting interpretive guidance from FINRA. Order Protection Rule. FIF hosted a call for the Equity Market Regulations Working Group to discuss the SEC rule proposal to rescind SEC Rules 611 (Order protection rule) and 610(e) (Locking or crossing quotations),...

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BNY Expands Relationship with Circle

According to Markets Media, BNY, a global financial services company, announced an expanded relationship with Circle Internet Group, Inc. as part of new stablecoin enablement capabilities for institutional clients. Circle USDC will be the first stablecoin on BNY’s Digital Asset Custody platform, enabling BNY clients to store, transfer, mint and burn USDC. This launch expands BNY’s role as primary custodian of USDC reserves. BNY clients can now hold USDC in their digital asset custody wallets at BNY, and through BNY they can instruct Circle to convert (“mint”) U.S. dollars into USDC and...

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ICE, NATIVX to Offer Energy-Normalized Compute Futures

According to Markets Media, Intercontinental Exchange, Inc., one of the world’s leading providers of financial market technology and data powering global capital markets, and NATIVX, the public exchange for compute, announced plans to launch GPU compute futures contracts based on NATIVX’s COIL Index, which tracks the price of tokenized, energy-normalized compute and connectivity.

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FIF Submits Comment Letter to SEC on CAT Concept Release

On June 22, FIF submitted a comment letter to the SEC in response to the SEC’s Concept Release on CAT and Other Audit Trails and Data Sources. FIF would like to thank the members of the CAT Transaction Reporting and CAT Reference Database Working Groups for their contributions in the drafting of this comment letter.

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Data & Technology Committee

The Data & Technology Committee will have its next call on Tuesday June 30 at 10 am ET to review capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. The spotlight presenter will be Anthony Montesano of Cboe, who will discuss the recent SEC approval of Cboe’s rule filing on Equity Options in Global Trading Hours.

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Order Protection Rule

FIF has scheduled a call for the Equity Market Regulations Working Group for Tuesday June 30 at 1 pm ET. The Working Group will discuss the SEC rule proposal to rescind SEC Rules 611 (Order protection rule) and 610(e) (Locking or crossing quotations), including issues and questions from FIF members relating to the rule proposal. If you would like to submit questions or topics for Working Group discussion, please send them to This email address is being protected from spambots. You need JavaScript enabled to view it.. All questions and topics will be presented anonymously.

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