The Front Office Committee will have its next call on Tuesday June 23 at 11 am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges.

The Rule 605 Working Group will have its next call on Tuesday June 23 at 2 pm ET. The Working Group will discuss the Rule 605 Designated Participants Authorization Form introduced by FINRA on June 17. The Working Group will also discuss issues and questions from FIF members relating to the Rule 605 amendments that will take effect on August 1.

FIF has scheduled a call for the Residual Supervisory Locations subgroup for Thursday June 25 at 11 am ET to discuss the FINRA requirements for RSLs. If you would like to participate in this discussion and are do not have this invite in your calendar, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it., and we will include you in this discussion.

FIF has scheduled a call for the Financial Data Transparency Act Working Group for Monday June 29 at 2 pm ET. The Working Group will discuss The Financial Data Transparency Act Joint Data Standards established by the SEC and other financial regulators.

The Data and 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 to provide for extended trading hours for select single stock options.

24x7 Trading Working Group. The 24x7 Trading Working Group continued its discussion of a draft FIF letter to the SEC and FINRA relating to the implementation of 24x7 Trading, including a discussion of the short sale locate requirement, Rule 10b-10 confirmations, Electronic Blue Sheets, TRF and CAT reporting, the Reg SHO close-out requirement and the customer protection rule. Digital Asset Securities Working Group. The Digital Asset Securities Working Group reviewed the SEC’s approval of Paxos as a clearing agency. Back Office Committee. The Back Office Committee reviewed applicable...

According to Markets Media, Euronext, the leading European capital market infrastructure, and BNY, a global financial services company, announced a strategic collaboration to enhance the collateral management capabilities of Euronext Clearing across asset classes, notably for cleared repo. By leveraging BNY’s world-class collateral infrastructure and $7.8 trillion liquidity pool, this collaboration enhances the collateral management capabilities of Euronext Clearing, enabling members to manage their cleared activity more efficiently, including margin and default fund contributions. 

According to WatersTechnology, Deutsche Bank is mounting a direct challenge to the custody banks that dominate operational foreign exchange execution for asset managers with the launch of an automated service it claims can cut costs by up to 90%. The German bank has integrated its HausFX execution service with BlackRock’s Aladdin order management system (OMS), which is used by more than 250 asset managers overseeing an estimated $21.6 trillion in assets as of 2020. 

Due to high demand from FIF Members, the June 17th in-person event at Daiwa Capital Markets in NYC has reached full capacity, and registration is now closed. For those who have registered, we will share additional details as the event approaches. We look forward to two engaging panels and a fantastic networking opportunity afterward! After opening remarks from Chief Risk Officer, Ben Genek of Daiwa, there will be two panels, one on Extended Trading Hours, TradFi & the December 6th Shift and the second will be on Digital Assets & Crypto – The Modern Blueprint. The Extended...