On July 31 FIF submitted a joint comment letter with SIFMA focused on the magnitude of CAT operating costs and the recent annual increases in CAT operating costs, which are not sustainable over the long-term. FIF would like to thank the members of the CAT Transaction Reporting Working Group for their contributions in the drafting of this comment letter.

FIF has scheduled a call for Tuesday August 8 at 2 pm ET to review a draft letter to FINRA requesting the retirement of TRF reporting requirements that are duplicative of CAT (for example, regulatory reports to the TRF). If you would like to participate on this call and have not previously notified FIF of your interest in this topic, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it.. 

FIF has scheduled a call for Thursday August 10 at 11 am ET to continue the discussion of the recent amendments to FINRA Rule 2231 (Customer Account Statements). If you would like to participate on this call and have not previously notified FIF of your interest in this topic, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

Next Bridge Hydrocarbons recently filed a Form S-1 registration statement with the SEC to distribute non-transferable subscription rights only to holders who register their Next Bridge common stock directly with the Company's transfer agent. This is a press release issued by Next Bridge. If you are interested in discussing this issue with other FIF members, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

Fractional Share or Fractional Bond Received from a Corporate Action. FIF members discussed processing and reporting for a scenario where a customer receives a fractional share or fractional bond as a result of a corporate action, and the fractional share or fractional bond allocation is subsequently liquidated as an account maintenance function. Reconciliation Process for Section 31 Fees. FIF members discussed enhancing the reconciliation process for Section 31 fees. Customer Account Statements. FIF members continued their discussion of the recent amendments to FINRA Rule 2231...

State Street Corporation announced that as part of its ongoing transformation and productivity initiatives, it is streamlining its operating model in India and intends to assume full ownership of the company’s joint venture with the Atos Group (originally established with Syntel, Inc.). This consolidation, which is expected to be complete by the fourth quarter 2023, will continue the transformation of State Street’s global operations. State Street also expects to achieve productivity savings as part of these efforts, starting in 2024. State Street has had a long-standing presence in India...

Intercontinental Exchange, Inc. a global provider of data, technology, and market infrastructure, announced the relaunch of ICE Risk Matching Auction (RMA), an enhanced sweeps session-based protocol for dealer-to-dealer fixed income trading. ICE RMA, which was initially launched in 2015, is part of the ICE Bonds’ suite of trading protocols, and now conducts multiple auctions each week, with 50 registered firms and over 400 users with access to the protocol. With ICE RMA, after traders upload their inventory of bonds, an ICE proprietary algorithm matches buyers and sellers of the same bond...

MIAX Options, MIAX Pearl Options, and MIAX Emerald Options have been providing access to its Member Firm Portal via an Application Programming Interface (“API”) in addition to its current web-based user interface. Member Firm Portal is a service for Members to perform certain functions such as modifying Market Maker assignments, risk protections, post-trade details, and other trade-related items. Subscription access to the Member Firm Portal is also available via web-based User Interface (“UI”). Members may access the Member Firm Portal via the web-based UI free of...

Interactive Brokers, an automated global electronic broker, announced the launch of fractional shares trading for Canadian stocks and ETFs. Clients of Interactive Brokers can now buy and sell fractional shares of all stocks and ETFs listed on the Toronto Stock Exchange and on CBOE Canada, plus eligible US and European stocks and ETFs. Fractional shares give investors a simple way to build a balanced portfolio and invest in shares regardless of the share price. With fractional shares, investors can divide investments among more stocks to achieve a better-diversified portfolio and put small...