The next call for the TRACE Working Group will be on Thursday May 9 at 1 pm ET. The Working Group will review a draft FIF comment letter on two SEC Orders: the April 22 SEC Order requesting additional comments in response to the January 11, 2024 FINRA rule filing (SR-FINRA-2024-004) to reduce to one minute the TRACE reporting timeframe for securities that are currently subject to a 15-minute reporting timeframe; and the April 22 SEC Order requesting additional comments in response to the January 12, 2024 MSRB rule filing (SR-MSRB-2024-01) to reduce the reporting timeframe for municipal...

FIF has scheduled the next call for the FIF Short Sales / Reg SHO / Short Reporting Working Group for Thursday May 9 at 3 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. The Working Group will also review guidance provided by the SEC relating to the jurisdictional scope of Form SHO reporting in the SEC’s reply brief in the litigation challenging the SEC rule.  

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. 

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 issues relating to SEC Rule 13f-2 on Short Position and Short Activity Reporting. The Working Group continued its review of a draft FIF letter to the SEC requesting guidance on the implementation of Rule 13f-2.  FINRA Trade Reporting Notice on Fractional Share Transactions. The FIF Data and Technology Committee and TRF/ORF Working Group discussed next steps in response to the March 22 FINRA Trade Reporting Notice...

AccessFintech is working with BNY Mellon to bring a joint solution addressing foreign exchange (FX) workflow challenges ahead of T+1 settlement scheduled to go live in North America this month. According to a story in The Trade news, the shift to T+1 is expected to pose  challenges for participants with projected increases in fail rates and pressures for international participants linked to misalignment. As a result, an anticipated impact of these challenges is increased capital constraints.  Funding and FX requirements are expected to be a more complicated challenge,...

Interactive Brokers, an automated global electronic broker, announced the availability of Daily Options on the CAC 40® index. Daily Options on the CAC 40® index provide experienced investors with another means to execute short-term trading strategies and manage exposure to the French stock market. Daily Options on the CAC 40® index cater to growing demand from institutional and retail investors for options with daily expirations. These options offer a unique opportunity to engage in short-term trading strategies with potentially lower costs due to their shorter time frame and thus decreased...

Jeffrey Sprecher, chair and chief executive of ICE, said the group has created an internal research and development group, called the AI Center of Excellence, which is testing novel use cases and building appropriate governance guardrails to reduce or eliminate the risks inherent to artificial intelligence. Sprecher said that ICE is increasingly being asked how the firm is incorporating AI into its business. He said developers are working on how to integrate AI models into products, to monetize ICE’s proprietary datasets and to improve its own productivity. In addition, the firm is...

FIF is pleased to welcome Vision Financial Markets to the FIF Community

On Monday May 6th, 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...