FIF has scheduled three joint calls for the CAT Transaction Reporting and CAT Reference Database Working Groups for this week. The first call will be on Monday June 15 at 1 pm ET; the second call will be on Wednesday June 17 at 11 am ET; the third call will be on Thursday June 18 at 1 pm ET. The Working Groups will continue their discussion of a draft FIF comment letter on the CAT Concept Release.

The next call for the Digital Asset Securities Working Group will be on Monday June 15 at 2 pm ET. The Working Group will discuss the SEC’s approval of Paxos as a clearing agency.

The Back Office Committee will have its next call on Tuesday June 16 at 11 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC and FINRA updates during the past month. The spotlight presenter will be Ian Springle from ICE Clear US, who will provide an update on ICE Treasury Clearing.

The 24x7 Trading Working Group will have its next call on Tuesday June 16 at 2 pm ET. The Working Group will continue its discussion of a draft FIF letter to the SEC and FINRA on implementation issues relating to the planned expansion of exchange trading hours.

FIF has scheduled a joint call for the Cybersecurity and Emerging Technologies Working Groups for Thursday June 25 at 3 pm ET. Monsurat Ottun from the Cybersecurity and Infrastructure Security Agency (CISA) will discuss CISA’s Post-Quantum Cryptography Initiative. 

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, and TRF and CAT reporting. CAT Transaction Reporting and CAT Reference Database Working Groups. This past week FIF hosted three joint calls for the CAT Transaction Reporting and CAT Reference Database Working Groups. The Working Groups discussed a response from FINRA CAT to a request submitted by FIF...

According to the Wall Street Journal, Citigroup is establishing a way for its wealthy and institutional clients to trade shares of private companies through a blockchain, a venture it hopes will be adopted by other banks across Wall Street. The bank said it is in discussions with some of the largest private companies to get involved. The venture is intended to broaden access to private firms at the same time companies are taking longer to go public, and Wall Street has been in a frenzy over the coming blockbuster stock-market debuts of SpaceX, Anthropic and others.

According to the Trade News, Marex has expanded its outsourced trading capabilities in Asia, with the addition of Charlie Woodcock to its Hong Kong-based team as an international outsourced trader. Woodcock’s appointment aligns with growing demand for outsourced trading both in Asian markets and across the world. Jack Seibald, global co-head of prime services and outsourced trading at Marex, commented: “The outsourced trading market continues to evolve as investment managers seek greater flexibility, specialist expertise and scalable operating models. Asia is a particularly important...

According to Waters Technology, research and algorithmic execution provider BestEx Research has launched AMS One, a new combined platform that offers algorithmic trading, transaction cost analysis (TCA), and Strategy Studio that allows firms to control their own algo capabilities or build on BestEx’s models using 150 parameters. BestEx has named Clear Street, a US broker-dealer and technology provider for clearing and settlement, as a client. Clear Street is using the platform via a software-as-a-service (SaaS) model.