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...

FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed a draft letter to the SEC on reporting of verbal quotes. The Working Group discussed a planned upcoming call with the CAT Operating Committee to discuss the submission of certification testing results to CAT. The Working Group discussed a survey request to be sent by FIF to FIF members on the use of the YE code for rep orders where the customer order is received electronically from another system. The Working Group discussed collecting cost estimates on reporting linkage of rep orders and...

FIF is sponsoring an event at Cboe in Chicago on Thursday November 3 at 4 pm (CT). The event is free for FIF members and will cover regulatory, technology and market data developments for options. Catherine Clay, Cboe’s Global Head of Data and Access Solutions, will welcome FIF members and give an update on Cboe strategy. The panelists for the technology and market data panel include Melisse Morris of IMC and Jeff Wells of Cboe. The panelists for the regulatory panel include Jeremy Kahn of Jane Street, Angela Lucas of Simplex and Nicole Pursley of Cboe. Tom Jordan, Head of the FIF Advisory...

The FIF Compliance Working Group has been renamed as the FIF Compliance and Surveillance Working Group. As this name change indicates, this Working Group will focus on compliance and surveillance topics. Erin Clemens of StoneX and Holly Dito of Pershing will serve as the Co-Chairs for this Working Group.   

Due to the FIF financial markets event in Chicago, FIF has moved the November CAT Monthly Update Working Group call from Thursday November 3 to Thursday November 10. FIF also is cancelling the CAT CAIS call for this Friday November 4. FIF will host the regularly-scheduled CAT CAIS and CAT Transaction Reporting calls on Wednesday November 2.

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...

Data and Technology Committee. The Data and Technology Committee reviewed capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. The spotlight presenter was Kaitlyn Meyer of MIAX, who discussed various MIAX market data initiatives. FIF CAT Transaction Reporting Working Group. The CAT Transaction Working Group discussed the current exemption for reporting port settings, which is scheduled to expire on July 31, 2024. FIF submitted a letter to the SROs on reporting UAT testing results to CAT. FIF CAT CAIS Working Group. The CAIS...

IEX Group, through its wholly-owned subsidiary swXtch.io LLC, announced the commercial launch of cloudSwXtch, a new cloud-native software product that brings bare-metal on premises performance capability to the major cloud networks. According to a story in MarketsMedia news, cloudSwXtch is a virtual overlay network that adds feature rich, high-performance networking to cloud or edge deployments – while requiring no code changes to existing applications. cloudSwXtch unlocks missing network features that are required for demanding, high-throughput workflows such as financial, industrial, and...

Intercontinental Exchange, Inc. announced the launch of real-time physical crude pricing from Link Data Services (“Link Data”), in cooperation with Link Crude Resources (“Link”), one of the largest brokers of physical North American crude, bringing additional transparency to the North American crude market. ICE has launched live calculations of the volume weighted average price for 12 grades of oil traded in the Permian; Cushing, Oklahoma; Houston and Louisiana Gulf Coast, including WTI in Midland and Houston. Link real-time pricing is available via WebICE from October 24, 2022, and on ICE...