EuroCCP, a leading pan-European clearing house and subsidiary of Cboe Global Markets, Inc. announced it has rebranded to Cboe Clear Europe with immediate effect.  Cboe acquired EuroCCP on July 1, 2020, bringing together two companies that have long championed competition, open access and clearing interoperability in Europe. Under Cboe’s ownership, Cboe Clear Europe has enhanced its position as the leading pan-European cash equities clearing house, by expanding the number of venues it provides clearing services to from 37 to 47, which provides it with access to approximately 95 per cent...

Liquidnet announced the advancement of electronification in the new bond issuance process following the successful transmission of buy-side orders in live market deals from Order and Execution Management Systems (O/EMS) to participating syndicate banks. This workflow follows the initial testing that Liquidnet Primary Markets in collaboration with Invesco Asset Management and Charles River Development (CRD), who were the first O/EMS to facilitate the functionality. Since the launch of the Liquidnet Primary Markets offering, the number of participating banks has grown from 10 to 30+, with...

Following the current “get grounded” orientation phase of the Schwab-TD Ameritrade platform conversion, the second phase for TD Ameritrade advisors, “get ready,” will start in late January, according to Jessica Heffron, managing director of Advisor Services Integration at Schwab. The next phase will be “when we’re really looking to execute custodial agreements with your firms,” she told TD Ameritrade advisors who are still getting some familiarity with Schwab’s platform. After that, “the next critical time period is June through August, which will cover … ‘complete setup,’ as well as get...

MIAX Options and MIAX Pearl Options are planning to discontinue the current 10G ULL shared extranet access and will begin providing separate dedicated MIAX Options and Pearl Options 10G ULL extranets. The target date is January 2023 pending filing with the SEC. The objective of the change is to increase port availability across the 10G ULL firm access switches for MIAX Options and MIAX Pearl Options while maintaining highly deterministic network performance. The current 1G LL shared access extranet will remain unchanged.

The European Investment Bank (EIB) is currently exploring the possibility of issuing the market’s “first-ever” GBP tokenized bond, for registration and issuance under Luxembourg law, using HSBC Orion according to a story in Securities Finance Times. The platform leverages blockchain technology as a “single source of truth”, whereby asset and settlement tokens sit natively and securely on the platform’s ledger. Transactions on HSBC Orion occur by exchanging these tokens, achieving digital delivery versus payment. The London-based bank intends to expand the use of HSBC Orion to other...

Goldman Sachs is making a bid to standardize the way the financial industry talks about, tracks and invests in the burgeoning universe of digital assets, according to a report from CNBC. The investment bank is set to unveil a data service created with global index provider MSCI and crypto data firm Coin Metrics that seeks to classify hundreds of digital coins and tokens so institutional investors can make sense of the new asset class. The new service is called Datonomy — a play on the word taxonomy, which is the branch of science concerned with naming and classifying the natural world — and...

On Monday November 14 at 2 pm ET FIF will host a joint call for the Compliance and Surveillance Working Group and the Back Office Committee focused on fractional share orders. Topics of discussion will include: fractional share workflows, including notional value orders, direct indexing, automated investment plans and dividend reinvestment plans; routing of orders and allocation of executed shares; trading capacity (mixed agency versus principal); restrictions on trading as principal for affiliated advisory accounts; classification of fractional share orders as held and not held; orders...

The Front Office Committee will have its next call on Tuesday November 15 at 11 am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges.

The Back Office Committee will have its next call on Thursday November 17 at 11 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month.