Wealthy clients going to a Morgan Stanley financial adviser to discuss their investments may have a different sort of experience in the future: having a chatbot listen to their conversation according to a story in Reuters news. After testing it with 1,000 financial advisers for some months, the bank will roll out a generative artificial intelligence bot this month, developed with the makers of ChatGPT, OpenAI. Bankers can use the virtual assistant to quickly find research or forms instead of sifting through hundreds of thousands of documents. The bank is also developing technology which...

Bloomberg has introduced a new alternative data function on the Bloomberg Terminal, which will allow customers to gain an early read on company performance alongside traditional fundamental data. Named ALTD <GO>, the new function will support equity analysts and portfolio managers with intra-quarter insights which can be incorporated into research workflows, paired with consensus estimates, company news, research and guidance – ahead of earnings announcements. According to a story in The Trade news, ALTD <GO> will also enable all Bloomberg Terminal users to incorporate consumer...

Sumitomo Mitsui Trust Asset Management has become the latest buy-side institution to onboard Virtu Financial solutions across its execution business. According to a story in The Trade news, the asset manager has successfully deployed Virtu’s multi-asset EMS, Triton Valor, alongside Virtu’s newly released suite of equity algorithms across Asia Pacific, Europe, Canada, Latin America, and the United States. Also included as part of the Triton Valor integration are Virtu’s algo wheel routing capabilities, pre-trade and post-trade trading analytics, request for quote, liquidity sourcing and...

On Wednesday September 6 at 10 am ET, the SEC will host an open meeting on the Executed Share Model for CAT funding. You can access the open meeting from the home page of the SEC website, www.sec.gov, on Wednesday at 10 am ET.

FIF will not have a CAIS Working Group call this week. The next CAIS Working Group call will be on Wednesday September 13 at 11 am ET. FIF will host two calls this week for the CAT Transaction Reporting Working Group. The first call will be on Tuesday September 5 at 3 pm ET and will review draft FIF letters to (i) the CAT Plan Participants and FINRA CAT and (ii) the SEC on CAT reporting for non-executable RFQ responses. The second call will be on Wednesday September 6 at 2 pm ET and will review a revised draft FIF comment letter on the recent proposal by the CAT Plan Participants to...

FIF has scheduled the next call for the Rule 606 Working Group for Tuesday September 5 at 2 pm ET. The agenda for the call will be to continue the review and discussion of the SEC’s recent approval of the FINRA rule filing to require Rule 606(a)-type reporting for OTC equities and to review a draft FIF member letter to FINRA with comments and questions relating to the new rule.

The FIF CAT Monthly Update Working Group call for September will be on Thursday September 7 at 2 pm ET. The Working Group will review guidance and updates from the CAT Plan Participants and FINRA CAT on CAT Transaction Reporting and CAT CAIS reporting during the prior month. The Working Group will also review the current areas of focus for FIF members and the current open issues for CAT Transaction Reporting and CAT CAIS reporting.

The next call for the FIF Emerging Technologies Working Group will be on Thursday September 14 at 11am ET. The spotlight presenter will be Vinu Viswasadhas of Kyndryl, who will discuss Mainframe Data Modernization. If you would like to participate on this call and are not a member of the Emerging Technologies Working Group, please update your FIF profile or contact This email address is being protected from spambots. You need JavaScript enabled to view it..

FIF has scheduled a call for Tuesday September 12 at 2 pm ET to review (i) a rule change adopted by the SEC on August 23 that will require certain proprietary trading firms that are currently exempt from FINRA membership to become FINRA members, (ii) the August 24 approval of IntelligentCross ATS as a new entrant to the Alternative Display Facility by the SEC’s Division of Trading and Markets, (iii) the SEC’s stay of the approval order on August 25, and (iv) the SEC’s September 1 Order directing the SROs to submit a revised consolidated market data governance plan. FIF has invited members...