Fractional Shares. The Working Group discussed a request for feedback from FINRA representatives relating to FINRA’s consideration of changes to the TRF and ORF reporting systems to allow for reporting of fractional shares.  SEC Rule on Short Position and Short Activity Reporting. The FIF Short Sales / Reg SHO / Short Interest Reporting Working Group discussed issues and questions from FIF members relating to implementation of the SEC Rule on Short Position and Short Activity Reporting. FIF Rule 605 Working Group. FIF hosted a call for the Rule 605 Working Group to review and make...

Goldman Sachs has achieved improvements in enhancing trade settlement efficiency through the use of Depository Trust and Clearing Corporation (DTCC)’s Central Trade Matching (CTM)’s Match to Instruct (M2i) workflow. according to a story in The Trade news. DTCC said that Goldman Sachs has streamlined its post-trade processes, resulting in a reduction in same-day affirmation (SDA) exceptions and settlement fails in Q4 2023 alone. Risa Lederhandler, global head of equities and securities services operations at Goldman Sachs, said: “Automation is a key enabler of operational efficiency and...

FXall, a division of the London Stock Exchange Group (LSEG), is enhancing its settlement and onboarding process for its buy-side clients through leveraging Saphyre’s technology. Through utilising the technology, FXall hopes to streamline the setup of funds to drastically reduce settlement times, ensuring clients are settlement and trade ready within a 24-hour timeframe. Gabino Roche, CEO and founder at Saphyre, said: “Saphyre is further demonstrating that it’s a comprehensive solution for finance and its operations. Not only does Saphyre set up your funds quickly and seamlessly, but it...

Cboe Global Markets announced that Cboe Australia has listed for trading new Exchange Traded Funds (ETFs) from iShares by BlackRock. According to a story in MarketsMedia news, BlackRock becomes the first global asset manager to list its iShares ETFs on each of Cboe’s listings exchanges in the U.S., Canada, Australia, the UK and the European Union. Three of the funds commence trading on Cboe Australia on February 16, 2024, while two Australian hedged versions of the funds are planned to launch February 23, 2024. “This latest listing of iShares ETFs on Cboe Australia is a major milestone and...

BNY Mellon has announced the launch of a new digital direct-to-custody trading solution for clients’ investment and cash management needs. Named NEXEN Markets, the platform is designed to enable clients to place equity, ETF and US Treasury orders directly from their accounts. According to a story in The Trade news, the platform will provide clients with a real-time view of cash balances and positions, with a view to supporting straight-through processing and mitigating settlement and operational risks. Additional features include direct electronic order communication from custody...

FIF is pleased to welcome Wedbush Securities to the FIF Community.

On Friday February 16, Howard Meyerson of FIF will be a panelist at the STA Florida Annual Conference. The title for the panel is “Electronic Trading, Surveillance, and Supervision: Regulatory Guidance and Updates Across Asset Class.” Erin Clemens of Trumid will be the moderator for the panel. The other panelists will be Rick Agster of Raymond James, Nikki Brinkerhoff of TradeStation, and Ted Karn of The Karn Group.

FIF has scheduled an additional call for the CAT Transaction Reporting Working Group for this week. On Monday February 12 at 2 pm ET, the Working Group will continue its discussion of CAT billing and reconciliation. The Monday call is in addition to the regularly-scheduled CAT Transaction Reporting Working Group call on Wednesday February 14 at 2 pm ET.

FINRA representatives have notified FIF that FINRA is considering changes to the TRF and ORF reporting systems to allow for reporting of fractional shares. FIF has scheduled a call for the Data and Technology Committee, the CAT Transaction Reporting Working Group, the Fractional Shares Subgroup, and the TRF Reporting Subgroup to discuss the implications of this change for TRF and ORF reporting, the SIP feed and CAT fees. FIF has scheduled this call for Monday February 12 at 3 pm ET.