FIF has scheduled a call for the Rule 605 Working Group for Tuesday February 13 at 4 pm ET. The Working Group will review a revised draft supplemental FIF comment letter on the SEC’s rule proposal to modernize Rule 605.

FIF has scheduled a call for the TRACE Working Group for Thursday February 15 at 11 am ET. The Working Group will discuss two additional scenarios raised by an FIF member on reporting of electronic and manual orders to TRACE and RTRS. The Working Group also will review and discuss changes to the FIF comment letter on (i) the January 11 rule filing by FINRA to reduce to one minute the TRACE reporting timeframe for securities that are currently subject to a fifteen-minute reporting timeframe and (ii) the parallel rule filing by the MSRB on January 12. FIF has scheduled 45 minutes for this...

The Back Office Committee will have its next call on Tuesday February 20 at 11 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Jim Hraska of FICC will discuss the rule recently adopted by the SEC to expand centralized clearing of Treasuries.

FIF has scheduled a call for the FIF Securities Lending Transparency Working Group for Tuesday February 20 at 3 pm ET. During the call, an FIF member will provide an update on its discussions with FINRA relating to implementation of the new securities lending reporting system mandated by the SEC. 

On Thursday February 22 at 11 am ET, Ignacio Sandoval of the Morgan Lewis law firm will review the rule adopted by the SEC to expand the definition of “dealer” under the Securities Exchange Act. FIF has invited the members of the Compliance and Surveillance Working Group and the SEC/FINRA Regulations Working Group to participate on this call. If you would like to participate on this call and are not a member of either Working Group, please update your FIF profile or contact This email address is being protected from spambots. You need JavaScript enabled to view it..

The Data & Technology Committee will have its next call on Wednesday February 28 at 10 am ET to review capacity, latency and volume data for the prior month for the equity, option, currency, crypto and futures markets. The spotlight presenters will be Alex Mirarchi and Mike Perna of Amazon Web Services, who will discuss their recent white paper on Running an Exchange in the Cloud. FIF has also invited the members of the FIF Emerging Technologies Working Group to participate on this call.

An FIF member would like to discuss with other FIF members the FINRA rule change relating to Residential Supervisory Locations (“RSLs”) and FINRA Regulatory Notice 24-02, which provides implementation details for designating RSLs. If you are interested in participating in this discussion, please contact This email address is being protected from spambots. You need JavaScript enabled to view it., and we will include you in the discussion.

FIF Rule 605 Working Group. FIF hosted two calls this past week for the Rule 605 Working Group. During both calls the Working Group reviewed and edited a draft FIF comment letter to the SEC on the SEC’s rule proposal to modernize Rule 605. FIF TRACE Working Group. The TRACE Working Group reviewed and discussed a revised draft of an FIF comment letter on (i) the January 11 rule filing by FINRA to reduce to one minute the TRACE reporting timeframe for securities that are currently subject to a fifteen-minute reporting timeframe and (ii) the parallel rule filing by the MSRB on January 12....

Bloomberg announced the launch of a fully automated electronic workflow for the trading and reporting of EUR Interest Rate Swap (IRS) v Bond Future contracts through Eurex. This new end-to-end workflow allows sell-side participants acting as executing brokers to facilitate a trade using a single interface and benefit from full straight through processing (STP) using Bloomberg’s technology. Assisting Futures Commission Merchant’s (FCM’s) with a seamless no-touch submission and approval process enables market participants to meet exchange-mandated reporting timelines which minimizes...