Provable Markets, a New York and Amsterdam based provider of front, middle, and back-office technology solutions for Securities Finance, announced the completion of its Series A investment round led by Dialectic Capital Management, with participation and support of current investors Inkef Capital and Anthemis. “Securities Lending is a uniquely complex, and vital component of the broader Securities Financing markets that underpin the global financial system,” said Matt Cohen Co-Founder and CEO of Provable Markets. “In many ways, it is the first of the traditional capital markets ecosystems...

Clear Street has expanded into futures clearing and execution services, after launching clearing for registered market makers in listed U.S. equities and options this month. According to a story in MarketsMedia news, the US financial services firm marked the first successful entry into the professional clearing market in close to a decade. Andy Volz, chief operating officer of Clear Street, said that when the company began building proprietary technology about five years ago, the long-term goal was to clear every product in every market globally.  Clear Street decided to first...

Later today FIF will hold an in-person event at the offices of OTC Markets (300 Vesey Street, New York, NY 10282). There will be two panels. Our first panel of the evening will be “Digital Assets:  Regulations, Processing & Technology”. The panel will cover public and private securities from issuance to trading, settlement and custody. On the panel will be Shawn Sloves of Fundamental Interactions, Tom Sullivan of Société Générale and Dan Zinn of OTC Markets. The panel will be moderated by FIF Advisory Chair, Tom Jordan. The second panel is “Current Regulatory Implementation...

On May 1 FIF submitted a letter to FINRA with open issues and questions relating to the implementation of FINRA Rule 6151. FINRA Rule 6151 provides for centralized reporting of Rule 606(a) reports with FINRA.

On May 1 FIF submitted a letter to FINRA with open issues and questions relating to the implementation of FINRA Rule 6151. FINRA Rule 6151 provides for centralized reporting of Rule 606(a) reports with FINRA.

FIF has scheduled an additional call for the CAT Transaction Reporting Working for this week. The call will be on Monday May 6 at 12 pm ET. During this call, the Working Group will review a revised draft FIF comment letter on the proposed Cost Savings Amendment filed by the CAT Plan Participants with the SEC on March 27, 2024. This call will be in addition to the regularly-scheduled CAT Transaction Reporting Working Group call on Wednesday May 8 at 2 pm ET.

FIF has scheduled a call for the ATS Working Group for Tuesday May 7 at 11 am ET. The agenda for the call will be to review questions from an FIF member relating to Form ATS-R. This will be a half-hour call.

FIF has scheduled a call for Tuesday May 7 at 1 pm ET to review 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. FIF has invited the members of the Data and Technology Committee and the TRF/ORF Working Group to participate on this call.

FIF has scheduled the next call for the Rule 605 Working Group for Tuesday May 7 at 3 pm ET. The Working Group will continue its review and discussion of the changes to Rule 605 that the SEC adopted on March 6. The Working Group will review and discuss a draft FIF comment letter to the SEC relating to implementation of the changes to Rule 605.