State Street has expanded the capabilities of its Alpha platform to support the entire lifecycle for exchange traded funds (ETFs) according to a story in The Trade news. The new State Street Alpha for ETF Issuers offering integrates Charles River Development’s front-office products with State Street’s ETF servicing capabilities to provide end-to-end technology and processes for ETF issuers. Issuers using the Alpha platform can make use of portfolio management, trading and compliance to enable growth across a variety of ETF strategies and increase speed to market. The platform is...

The machine learning technology that powers global Fintech leader Broadridge Financial Solutions' ability to provide financial advisors with engagement predicting scores and other valuable insights on securities based lending (SBL) borrowers has been granted a patent by the U.S. Patent and Trademark Office. Broadridge's patented machine learning technology delivers actionable insights that help wealth organizations and advisors identify and efficiently target high propensity prospects, reduce loan attrition, better understand overall book trends to inform business decisioning, budget...

Bloomberg has introduced a white label solution for US treasuries, allowing a wide range of broker dealers to provide liquidity for trades initiated on its platform as part of its D&I dealer initiative. New minority-owned broker dealers for US treasuries have been added to the offering, including CastleOak Securities, Mischler Financial Group and Tigress Financial – with more firms expected to be on-boarded and integrated soon. According to a story in The Trade news, the treasury offering adds to Bloomberg’s existing D&I dealer program, which was introduced in 2017 with boutique...

Cboe Global Markets announced that it plans to expand its corporate bond index product suite with two new offerings. New options on Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index futures (futures ticker: IBHY) and Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index futures (futures ticker: IBIG) are planned to be listed for trading on Cboe Futures Exchange, LLC (CFE) beginning July 10. CFE also plans to extend trading hours for IBHY and IBIG futures to nearly 24-hours per weekday in the third quarter of 2023. According to a story in MarketsMedia news, the $10.4...

New York-based independent prime broker Clear Street is set to launch a new investment banking business named Strategic Advisory Services according to a story in The Trade news. The new business line will offer strategic advisory, transaction, and creative capital solutions to emerging growth companies, subject to regulatory approvals. Clear Street has hired a team of investment bankers to build out the investment banking and advisory offering. John D’Agostini has been appointed as co-head of investment banking, joining Clear Street from JonesTrading, where served as managing director of...

Laser Digital, a digital asset subsidiary of Nomura, is acquiring the trading solutions firm Elysium Technology Group according to a story in the Block News. The transaction is expected to close imminently, the companies said in a statement, adding that the deal is a "significant milestone for both companies as they join forces to bring cross-asset post-trade capabilities to institutional digital asset investors." Elysium focuses on providing over the counter, post-trade solutions for foreign exchange and digital assets with its RiskDB and MatchHub services. RiskDB minimizes trading...

On Thursday June 29 at 5 pm, FIF will hold an in-person event at the offices of OTC Markets (300 Vesey Street, New York, NY 10282). There will be two panels. The first panel will discuss “SEC Exchange Act Rule 3b-16: New Exchange Definition, Revised ATS Regulation and Reg SCI.” The second panel will discuss “Evolution of Digital Assets to the Mainstream.” The panels will be moderated by FIF Advisory Chair, Tom Jordan. The panelists for the Rule 3b-16 panel will be Robert Laorno of the Intercontinental Exchange, Tom Merritt of Virtu, and Gary Stone of Bloomberg. The panelists for the digital...

On June 22, FIF submitted a supplemental comment letter to the SEC on the SEC’s rule proposal on Disclosure of Order Execution Information. FIF would like to thank the members of the FIF Rule 605 Working Group for their contributions in the drafting of this supplement comment letter.

An FIF member would like to discuss with other FIF members the use of “combined statement groups” (sending a single statement to separate account holders for multiple accounts) when the recent FINRA amendments to Rule 2231 (Customer Account Statements) take effect on January 1, 2024. If you would like to participate in this discussion, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..