According to Traders Magazine, Roland Chai, president of European markets and head of digital assets at Nasdaq, said the firm’s filing on the tokenization initiative from the Depository Trust & Clearing Corporation (DTCC), the U.S. post-trade infrastructure, was approved a few weeks ago and it is working on evolving the design of its equity token. Chai said, “That is very much full steam ahead.” In March this year Nasdaq said it would support the tokenization of equities in a manner that preserves issuer control, existing regulatory frameworks, and the underlying rights associated...

According to the TRADE News, OptimX Markets has collaborated with FactSet’s execution management system (EMS), Portware, in a bid to integrate bilateral liquidity into institutional trading workflows. The new integration – which spans both automated and user-driven workflows – is expected to allow traders to control how and when they interact with broker liquidity, with the aim of enabling efficient speed and precision for modern execution. 

FIF has scheduled two joint calls for the CAT Transaction Reporting and CAIS Working Groups for this week. The first call will be on Monday April 20 at 1 pm ET; the second call will be on Wednesday April 22 at 2 pm ET. The Working Groups will continue their discussion on prioritizing the recommendations previously submitted by the FIF Working Group to CAT LLC. The Working Groups will also discuss the concept release issued by the SEC on April 16.

The Front Office Committee will have its next call on Tuesday April 21 at 11 am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. The spotlight presenter will be Dmitri Galinov and Paul Adcock of 24X Exchange, who will discuss the recent exemption request submitted by 24X Exchange to the SEC and the benefits of trading stocks and tokenized securities overnight on a regulated exchange.

FIF has scheduled two calls for the Rule 605 Working Group for this week. The first call will be on Tuesday April 21 at 1 pm ET; the second call will be on Thursday April 23 at 1 pm ET. The Working Group will continue its discussion of (i) the Rule 605 FAQs and Rule 605 exemptive order published by the SEC on April 1 and (ii) a draft letter to the SEC with questions and comments on the Rule 605 FAQs.

FIF has scheduled a call for the CAT Transaction Reporting Working Group for Thursday April 23 at 12 pm ET to continue the discussion of CAT Transaction Reporting scenarios for options.

On Thursday April 23 at 3 pm ET, Stevie Conlon, Robert Schwaba and Anna Vayser of Wolters Kluwer will present to the Tax Information Reporting Working Group on “Broker Reporting Issues for Tokenized Securities.”

The Data & Technology Committee will have its next call on Wednesday April 29 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 Adrian Griffiths, who will discuss the upcoming launch of the MX2 Exchange for options trading.

Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Please find the meeting materials for the 4/14 meeting here.