The Front Office Committee will have its next call on Tuesday July 25 at 11 am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges.

FIF has scheduled the next call for the Rule 606 Working Group for Tuesday July 25 at 2 pm ET. An FIF member will update the Working Group on guidance that the member received from SEC representatives on Rule 606(a) reporting (i) when a parent order is routed to multiple venues, and (ii) for orders received outside of regular market hours. The Working Group will also discuss other issues and questions raised by FIF members.

The Data and Technology Committee will have its next call on Wednesday July 26 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 Vincent Poil of Cboe Global, who will discuss recent developments in the Canadian Markets relating to trading, market data and listings.

FIF has scheduled a call for Thursday July 27 at 10 am ET to discuss enhancing the reconciliation process for Section 31 fees. If you would like to participate in this discussion 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..

On Thursday July 27 at 3 pm ET, Steven Lofchie and Nihal Patel of Fried Frank will present on the following recent SEC and FINRA financial risk rulemaking initiatives: (i) FINRA Seeks Comment on Concept Proposal for a Liquidity Risk Management Rule (FINRA Regulatory Notice 23-11); (ii) Proposed Rule Change to Provide Relief Relating to Specified Option Transactions under FINRA Rule 4210 (Margin Requirements) (SR-FINRA-2023-010); and (iii) the SEC rule proposal on Daily Computation of Customer and Broker-Dealer Reserve Requirements under the Broker-Dealer Customer Protection Rule. FIF is...

FIF has scheduled a call for Monday July 31 at 1 pm ET to discuss 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. 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..

Retiring TRF Reporting Requirements that are Duplicative of CAT. FIF hosted a call for FIF members to discuss retiring TRF reporting requirements that are duplicative of CAT (for example, regulatory reports to the TRF). Back Office Committee; FINRA Trading Activity Fee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. FIF reviewed a recent rule filing by FINRA to amend the FINRA Trading Activity Fee. Please find the agenda here.  FIF CAT Transaction Reporting Working Group. FIF hosted three calls this week...

LCH – part of the post-trade division of London Stock Exchange Group – has announced that Barclays and Barclays Ireland are now live as clearing brokers at CDSClear. Europe-based CDSClear allows users to cross-margin European and US products. It became an international service in 2012, following regulatory efforts to enforce the central clearing of certain credit default swaps. Two years later, the European Securities and Markets Authority reauthorised the CCP to clear the products under the European Market Infrastructure Regulation. According to a story in The Trade news, LCH is currently...

State Street Corporation announced that it has entered into an arrangement with GeoQuant, a itch Solutions Company, to make available geopolitical and country risk indicators produced and calculated by GeoQuant in State Street’s own macro strategy research. The GeoQuant indicators measure and predict political risk daily and systematically with a fusion of PhD-level political and computer science. The full suite of GeoQuant’s indicators is available on a subscription basis exclusively from GeoQuant. GeoQuant is also developing, with input from State Street, a new indicator designed to...