On Monday May 13 at 2 pm ET, Ignacio Sandoval of the Orrick law firm will review the recent FINRA rule filing for the SLATE (Securities Lending and Transparency Engine) system to be developed and operated by FINRA. FIF has invited the members of the FIF Securities Lending Transparency Working Group to participate on this call. 

FIF has scheduled an additional call this week for the CAT Transaction Reporting Working Group. The call will be on Thursday May 16 at 11 am ET and will focus on reviewing a draft of a CAT NMS Plan amendment to be filed by the CAT Plan Participants with the SEC relating to the reporting of certain verbal activity. This call will be in addition to the regularly-scheduled call for the CAT Transaction Reporting Working Group, which will be on Wednesday May 15 at 2 pm ET. The next call for the CAT CAIS Working Group will be on Wednesday May 15 at 11 am ET. 

FIF has scheduled the next call for the FIF Short Sales / Reg SHO / Short Reporting Working Group for Thursday May 16 at 1 pm ET. The Working Group will continue its review and discussion of a draft FIF letter to the SEC requesting guidance on the implementation of SEC Rule 13f-2 on Short Position and Short Activity Reporting.

FIF has scheduled the next call for the Rule 605 Working Group for Thursday May 16 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.

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).

FIF would like to send out a big thanks to OTC Markets Group for hosting and Fundamental Interactions for sponsoring the networking hour last week at our sold out event in New York City. The capacity crowd enjoyed insights from industry experts such as: Shawn Sloves of Fundamental Interactions, Tom Sullivan of Societe Generale and Dan Zinn of OTC Markets who spoke on Digital Assets- Regulations, Processing & Technology. With a second panel of industry experts (David Emero of n-Tier fs, Tom Hochleutner of Clear Street, Alex Raisch of SMBC Nikko and Jacki VanMoer of Goldman Sachs)...

FINRA Trade Reporting Notice on Fractional Share Transactions. The Data and Technology Committee and the TRF/ORF Working Group reviewed a draft FIF letter to FINRA in response to the March 22 FINRA Trade Reporting Notice on Upcoming Trade Reporting Enhancements for Fractional Share Transactions. The Working Group discussed reporting for corrections and the reporting flag for transactions that are away from the market. SEC Rule on Short Position and Short Activity Reporting. The FIF Short Sales / Reg SHO / Short Reporting Working Group continued its review and discussion of implementation...

A year after a wave of speculation broke out over its application to trademark the word “IndexGPT” in connection to an unspecified artificial intelligence-powered tool, JPMorgan Chase & Co. is unveiling the product that will bear the name according to a story in Bloomberg news. IndexGPT is a new range of thematic investment baskets created with the help of OpenAI’s GPT-4 model. The tool generates a list of keywords associated with a theme, which are then fed into a separate natural language processing model that scans news articles to identify...

LTX, a subsidiary of Broadridge Financial Solutions Inc.  announced its integration with MultiLynq, a provider of electronic fixed income trading connectivity and integration solutions, to accelerate connectivity to the LTX platform. Solutions like MultiLynq assist dealers and other market participants in more quickly onboarding to LTX, joining the 35+ dealers and 90+ asset managers already on the AI-powered corporate bond trading platform. Through MultiLynq, dealers can more easily integrate LTX into their existing infrastructure, avoiding the need to deploy their own resources...