FIF has scheduled the next call for the Rule 605 Working Group for Tuesday March 26 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 Data & Technology Committee will have its next call on Wednesday March 27 at 10 am ET to review capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. The spotlight presenter will be Adrian Griffiths and Geralyn Endo of MEMX, who will provide an update on the launch of the MEMX Options Exchange.

FIF has scheduled the next call for the FIF Short Sales / Reg SHO / Short Interest Reporting Working Group for Thursday March 28 at 2 pm ET. The Working Group will review a draft letter to the SEC requesting further guidance relating to the implementation of SEC Rule 13f-2 on Short Position and Short Activity Reporting. A vendor will discuss a data product that could be used to identify equity securities for reporting. The Working Group will also discuss issues and questions from FIF members relating to implementation.

On March 22, 2024, FINRA published a Trade Reporting Notice to announce an upcoming change to the TRF and ORF systems to support reporting of fractional share quantities. The effective date will be no earlier than the first calendar quarter of 2025. This notice will be discussed during the following FIF calls this week: Front Office Committee (Tuesday at 11 am ET); Data and Technology Committee (Wednesday at 10 am ET); and CAT Transaction Reporting Working Group (Wednesday at 2 pm ET).

FIF Rule 606 Working Group / FINRA Rule 6151. FINRA hosted a call for FIF members on the recently-adopted FINRA Rule 6151, which requires industry members to submit their Rule 606(a) reports to FINRA. During the call, representatives from FINRA’s Office of General Counsel and FINRA’s Market Regulation and Technology groups provided an update on the implementation of FINRA Rule 6151. FINRA personnel also answered questions from FIF members. FIF Rule 605 Working Group. The Rule 605 Working Group discussed reporting under the current Rule 605for DNR (do not reduce) orders. The Working Group...

BNY Mellon revealed that it has become the first major bank to deploy an NVIDIA DGX SuperPOD with DGX H100 systems. According to a story in MarketsMedia news, NVIDIA Professional Services and BNY Mellon, were able to install and configure the DGX SuperPOD ahead of typical timelines. The system, equipped with dozens of NVIDIA DGX systems and NVIDIA InfiniBand networking and based on the DGX SuperPOD reference architecture, delivers computer processing performance that hasn’t been seen before at BNY Mellon. Powered by its new system, BNY Mellon plans to...

Merrill Lynch has become the latest market maker to be added to the Saudi Exchange, with the addition marking the fourth market maker onboarded since July 2023. According to a story in The Trade news, Merrill Lynch also becomes the first international market maker to conduct market making activities on Saudi equities. Over the past year, Saudi Exchange has seen a number of key developments within its franchise. Elsewhere, single stock options (SSOs) contracts at Saudi Exchange became available to trade as of November 27, enabling both local and international investors to hedge and...

BNY Mellon is set to offer its buy-side trading solution to Goldman Sachs Asset Management as the firm continues to expand the reach of its outsourced trading offering across the market. The new buy-side trading relationship specifically concerns a division of Goldman Sachs Asset Management’s EMEA business according to a story in The Trade news. As part of the agreement, BNY Mellon is delivering global trade execution services in EMEA, the US and APAC markets across fixed income, FX, derivatives, and ETFs.  BNY Mellon’s buy-side trading solutions business was launched last year,...

FIF is pleased to welcome Mizuho Americas to the FIF Community