FIF has scheduled the next call for the Tax Information Reporting Working Group for Thursday April 18 at 3 pm ET. Representatives from Wolters Kluwer will provide an update on amendments to the Section 871(m) regulations applying the Section 871(m) withholding tax on “dividend equivalent payments” to long U.S. equity-linked derivative positions that have a “delta” of .8 or greater.

SEC Rule on Short Position and Short Activity Reporting. The FIF Short Sales / Reg SHO / Short Interest Reporting Working Group continued its review and discussion of implementation issues relating to SEC Rule 13f-2 on Short Position and Short Activity Reporting, including identification of reportable securities, applicability of the Form 13F reporting requirements to Form SHO, reporting by affiliated groups, and application of the Form SHO reporting requirements to activity outside the US. FINRA Trade Reporting Notice on Fractional Share Transactions; SIAC and UTP notices on Fractional...

Cboe Clear Europe, Cboe’s Amsterdam-based pan-European clearing house, announced that it has secured the support of additional participants to support the launch of its Central Counterparty (CCP) clearing service for securities financing transactions (SFTs). Bank of America and State Street have committed to supporting the service from launch, which is expected during Q3 2024, subject to regulatory approvals. Their commitment brings the total number of launch participants for the SFT clearing service to nine, comprising a broad range of key market participants, including banks, clearing...

Société Générale has become the first prime broker to tap DTCC’s CTM’s new automated tri-party trade matching workflow as the industry prepares for the heightened focus on meeting global accelerated settlement requirements. According to a story in The Trade news, the introduction of CTM’s new workflow aims to streamline trade communications among hedge funds, prime brokers and executing brokers. By integrating CTM’s tri-party matching functionalities, the platform standardizes and automates the delivery of hedge fund trade files, supporting real-time communication of trade details...

Clear Street, a New York-based diversified financial services firm, announce the availability of professional clearing services for registered market makers in listed U.S. equities and options, marking the first successful entry into the professional clearing market in close to a decade. According to a story in MarketsMedia news. Powered by Clear Street’s proprietary, cloud-native prime brokerage platform, the Company’s approach empowers U.S. registered market makers to gain comprehensive insights into effective strategies tailored to their needs, including global expansion and...

Jefferies Financial Group and SMBC Group announced that they have expanded their global strategic alliance to enhance collaboration on future corporate and investment banking business opportunities within the Canadian market according to a story in MarketsMedia news. SMBC Group comprises Sumitomo Mitsui Financial Group, Inc. , Sumitomo Mitsui Banking Corporation, SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., and other group companies. In December 2023, Jefferies announced that it established full-service investment banking and capital markets capabilities in...

Bloomberg has won its bid to provide the European Central Bank with electronic trading platforms (ETPs) for the trading of certain instruments. According to a story in The Trade news, the platform provider has been awarded three framework agreements in relation to the European Central Bank and other Eurosystem National Central Banks (NCBs). Bloomberg will supply the European Central bank with platforms for Euro, US Dollar (USD) and Japanese Yen (JPY) denominated government bonds and USD and JPY interest rate swaps, as well as USD and JPY denominated Futures contracts. Trades will take place...

FIF will hold an in-person event at the offices of OTC Markets on Monday May 6th from 5-8 pm ET. The 1st panel will discuss current regulatory challenges for digital assets. The second panel will discuss current implementation challenges, including SEC Rule 605, FINRA Rule 6151 (Rule 606 filings with FINRA), SEC Rule 13f-2 (short position reporting), CAT, and fractional shares on the TRF. The event will take place at the offices of OTC Markets at 300 Vesey Street, 12th Floor, New York, NY. Registration in the lobby and networking begins at 4:15 pm ET. The speaking engagement will be...

FIF has scheduled the next call for the FIF Short Sales / Reg SHO / Short Interest Reporting Working Group for Monday April 1 at 2 pm ET. The Working Group will continue its review and discussion of implementation issues relating to SEC Rule 13f-2 on Short Position and Short Activity Reporting, including identification of reportable securities, applicability of the Form 13F reporting requirements to Form SHO, reporting by affiliated groups, and application of the Form SHO reporting requirements to activity outside the US.