FIF has scheduled a joint call for the CAT Transaction Reporting and CAT Reference Database Working Groups for Wednesday July 1 at 2 pm ET. The Working Groups will discuss updates to CAT billing documentation, FAQ updates, and the comment letters submitted in response to the SEC Concept Release on CAT and Other Audit Trails and Data Sources.

The CAT Monthly Update Working Group call for July will be on Thursday July 2 at 2 pm ET. The Working Group will review guidance and updates from CAT LLC and FINRA CAT during the prior month. The Working Group will also review the current areas of focus for FIF members and the current open issues relating to CAT reporting.

FIF has scheduled a joint call for the SEC FINRA Regulations Working Group and the Compliance and Surveillance Working Group for Tuesday July 7 at 2 pm ET. The Workings Groups will review an updated Regulatory Implementations Presentation and Calendar, including updates on the following topics: extension for implementation of Reg NMS tick size and access fee changes; 24x7 Trading; Limit Up – Limit Down; CT Plan amendment; Order Protection Rule; CAT; Rule 605; new clearing agencies; extended trading hours for equity options; Financial Data Transparency Act; and Trump accounts.

FIF has scheduled a joint call for the Cybersecurity and Emerging Technologies Working Groups for Thursday July 16 at 3 pm ET. Monsurat Ottun from the Cybersecurity and Infrastructure Security Agency (CISA) will discuss CISA’s Post-Quantum Cryptography Initiative.

Rule 605 Working Group. The Rule 605 Working Group discussed the Rule 605 Designated Participants Authorization Form introduced by FINRA on June 17. The Working Group discussed issues and questions from FIF members relating to iceberg orders, validation of Rule 605 reports, and IOC orders transmitted to an ATS. The Working Group reviewed the Rule 605 Fact Sheet prepared by FIF members. Residential Supervisory Locations (RSLs) Subgroup. FIF hosted a call for the Residual Supervisory Locations subgroup to discuss the FINRA requirements for RSLs and registration and inspection requirements...

According to Bloomberg News, high-speed trading firms are making fresh inroads into the currency options market, with IMC Trading and Susquehanna International Group expanding globally and Optiver Holding pursuing more complex offerings. IMC’s London-based FX options team this month started trialling market making in US hours, while US-based Susquehanna is looking to hire in Europe to build out its currency derivatives business there, according to people with knowledge of the matter.

According to Markets Media, Euroclear, a global financial market infrastructure provider and Societe Generale-FORGE (SG-FORGE), a leading European stablecoin issuer and the digital asset subsidiary of Societe Generale group, announced a collaboration to explore how digital cash solutions could support the issuance and settlement of short-term funding instruments in US dollars. The collaboration will assess the potential use of USD CoinVertible, a Markets in Crypto-Assets Regulation (MiCA)-compliant stablecoin issued by SG-FORGE, to settle tokenised USD-denominated Negotiable European...

FIF is pleased to welcome MassMutual to the FIF Community.

Thank you all who attended the sold out FIF Event at Daiwa Capital Markets America Inc. The beautiful space provided by Daiwa was the perfect backdrop for a wonderful evening. After two insightful panels, it was great catching up with everyone in person during the networking section of the event. Lastly, we would like to thank all of our speakers for the evening who volunteered their time: opening remarks by Chief Risk Officer, Benjamin Genek of Daiwa, the Extended Trading Hours panel was moderated by Tom Jordan of Jordan & Jordan, and the panelists included Matt Billings of...