FIF has scheduled a call for Tuesday May 9 at 2 pm ET to discuss the SEC’s recent reopening of the comment period on the SEC’s proposed amendments to Rule 3b-16 (relating to the definition of an “exchange”). FIF has invited members of the ATS Working Group, the Compliance and Surveillance Working Group and the TRACE/Fixed Income Working Group to participate on this call. If you are not a member of any of these groups and would like to participate on this call, please update your FIF profile or contact This email address is being protected from spambots. You need JavaScript enabled to view it..

On Friday April 28, FIF sent out two survey requests to FIF members relating to CAT Transaction Reporting: the first survey request relates to a Plan Participant proposal for scheduled linkage in the CAT production mirror environment; the second survey request relates to QA reviews of CAT events. FIF has requested that FIF members respond to the survey requests by Monday May 15. All survey responses will be anonymized.

Options Clearing Corporation Cybersecurity Rule Proposal. FIF hosted two calls for the Cybersecurity Working Group and the Compliance and Surveillance Working Group to review and edit a draft FIF comment letter to the SEC on a rule filing submitted by The Options Clearing Corporation to the SEC that would require immediate notification of security incidents to the OCC and various follow-up notification requirements. FIF submitted this comment letter to the SEC. FIF SEC Cyber, Reg SCI and Reg S-P Proposals Working Group. The Working Group continued its review and discussion of the SEC’s...

Deutsche Bank has agreed to acquire institutional broker Numis for £410 million, according to a story in The Trade news. The deal will throw Deutsche Bank back into the fore of European equities after it moved to exit the market by signing over its electronic equities business to BNP Paribas alongside its prime brokerage business in 2019. The bank has been evaluating how to accelerate the growth of its UK business after identifying it as the largest investment banking market in Europe, documents outlined, adding that the combination of the pair’s businesses across corporate broking,...

New York-based independent prime broker Clear Street has received a $270 million investment from Prysm Capital, a growth equity firm, according to a story in The Trade news. The investment is the second tranche of a $435 million Series B funding round and values the Company at $2 billion. This is the second investment in the company’s Series B led by Prysm Capital, with support from a diverse institutional investor base, including public pension funds and endowments. Founded in 2018, Clear Street has built a proprietary, cloud-native, clearing and custody system to replace the...

Cboe has selected Broadway Technology to become the infrastructure service provider for its new interdealer US treasuries trading platform according to a story in The Trade news. Announced in November 2021, the new platform – Cboe Fixed Income – is the exchange group’s first move into fixed income. The dealer-to-dealer electronic trading platform claims to be the first ever full amount trading platform for on-the-run US treasuries trading meaning any incoming marketable order will trade in full against one counterparty. It leverages Cboe’s matching protocol, consolidating streaming quotes...

FIF is pleased to welcome IMC to the FIF Community.

FIF has scheduled a call for the Cybersecurity Working Group and the Compliance and Surveillance Working Group for Monday April 24 at 1 pm ET. The agenda for the call will be to review and edit a draft FIF comment letter in response to a rule filing submitted by The Options Clearing Corporation to the SEC that would require immediate notification of security incidents to the OCC and various follow-up notification requirements. The comment period ends on April 26.

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