BNY Mellon has announced the integration of Global Markets Trading (GMT), which will combine the firm’s capabilities in foreign exchange, fixed income, equities and capital markets to provide full-service client provisions. GMT will improve client experience, increase optionality, and execution choice, as well as offering clients improved access to BNY Mellon’s global markets and execution enterprise according to a story in The Trade news. “We are proud to announce a newly integrated set of markets sales and trading capabilities for clients provided by Global Markets Trading. With a...

Bloomberg and Hong Kong Exchanges and Clearing (HKEX) have enhanced their Swap Connect solutions to better facilitate global investments in China’s onshore interbank interest rate swap (IRS) markets. The development coincides with the latest enhancements applicable to the Northbound Swap Connect schemes are introduced by China Foreign Exchange Trade System (CFETS), Shanghai Clearing House, and OTC Clearing Hong Kong. Bloomberg’s enhancements to its Swap Connect solution include new features that support IRS contracts with International Monetary Market (IMM) dates and the ability to offset...

Jones Trading has moved its firmwide middle office operations onto LiquidityBook’s LBX Post-Trade Hub, a suite of modular, cloud-native solutions for sell-side middle office operations. The two firms collaborated closely to go live in 3 months, an aggressive and necessary implementation timeline to retire a legacy solution that was in place for nearly 2 decades. LBX Post-Trade Hub will serve as a single, standalone middle office allocation system, interfacing with multiple front office OMS platforms and clearing brokers. A leading executing institutional broker-dealer and among...

On May 16, FIF submitted a letter to FINRA in response to the FINRA Trade Reporting Notice on Upcoming Trade Reporting Enhancements for Fractional Share Transactions. FIF would like to thank the participants of the FIF Data and Technology Committee and the FIF TRF/ORF Working Group for their contributions in the drafting of this letter.

On May 17, FIF submitted a comment letter to the SEC in response to the SEC’s Orders Instituting Proceedings relating to the rule filings by FINRA and the MSRB to reduce to one minute the timeframe for reporting to TRACE and RTRS. FIF would like to thank the participants of the FIF TRACE Working Group for their contributions in the drafting of this comment letter.  

FIF has scheduled a call for the OFR Repo Reporting Working Group for Monday May 20 at 2 pm ET. The agenda for the call will be to review and discuss the documentation published by the Treasury Department’s Office of Financial Research (OFR) relating to reporting for repos that are executed bilaterally and not centrally-cleared (NCCBR repos).

The Back Office Committee will have its next call on Tuesday May 21 at 11 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, and FINRA updates during the past month.

FIF has scheduled an additional call this week for the CAT Transaction Reporting Working Group. The call will be on Tuesday May 21 at 1 pm ET and will focus on reviewing a draft FIF exemptive request relating to linkage of representative to customer orders and linkage of order fulfillments to representative and principal orders. This call will be in addition to the regularly-scheduled call for the CAT Transaction Reporting Working Group, which will be on Wednesday May 22 at 2 pm ET. The next call for the CAT CAIS Working Group will be on Wednesday May 22 at 11 am ET.

FIF has scheduled the next call for the Rule 605 Working Group for Tuesday May 21 at 3 pm ET. The Working Group will continue its review and discussion of a draft FIF comment letter to the SEC relating to implementation of the changes to Rule 605 that the SEC adopted on March 6.