Pragma, an independent, multi-asset class algorithmic trading technology provider, has enhanced its deep-learning enabled execution algorithms to intelligently trade Canadian and U.S. interlisted equities. Pragma announced Mercury, its deep neural network-based execution engine, in 2021 after a multi-year research and development effort, and a year of controlled production trading trials with its clients. Mercury’s deep neural network microtrading engine controls the routing, sizing, pricing and timing of orders, and has shown a robust improvement in execution quality, with an average...

Bloomberg announced that its Data License content is now available on Google Cloud, enabling customers globally to receive content natively through cloud technology, which dramatically reduces the time to integrate data and derive insights. Building upon Bloomberg’s existing relationship with Google Cloud and the successful launch of access to its real-time data service, B-PIPE, Data License customers now have the ability to receive Bloomberg OneData content, including reference, pricing, regulatory data, research, corporate actions, and ESG data for more than 50 million securities and...

BNY Mellon announced that its Digital Asset Custody platform is live in the U.S. Select clients are now able to hold and transfer bitcoin and ether. A recent survey sponsored by BNY Mellon highlights already significant institutional demand for a resilient, scalable financial infrastructure built to accommodate both traditional and digital assets. According to the survey, almost all institutional investors (91%) are interested in investing in tokenized products. Additionally, 41% of institutional investors hold cryptocurrency in their portfolio today, with an...

FIF is sponsoring an event at Cboe Global Markets 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. FIF has sponsored this event at Cboe annually for many years prior to 2020. Please click here to register and for additional details about the program.

The Back Office Committee will have its next call on Tuesday October 18 at 11 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, and FINRA updates during the past month. The spotlight presenter will be Peter Warms of the Global Legal Entity Identifier Foundation (GLEIF), who will discuss current developments relating to legal entity identifiers (LEIs). The LEI is a 20-character alpha-numeric code based on ISO 17442 that enables clear and unique identification of legal entities participating in financial transactions.

The FIF Tax Information Reporting Working Group will host its next call on Thursday October 20 at 2 pm ET. Cynthia Lapins and Robert Schwaba of Wolters Kluwer will present on “SPACs: What Happens When We Don’t Make A Deal”.

The Data and Technology Committee will have its next call on Wednesday October 26 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 presenters will be Chaz Palmeri and Vinay Rao of MIAX, who will discuss volatility products.

FIF Rule 606 Working Group. The Rule 606 Working Group discussed issues and questions from FIF members on challenges with linking to exchange fee schedules, reporting fees in the Rule 606(a) material aspects disclosures, and Rule 606(a) reporting for FLEX option orders. FIF CAT CAIS Working Group. The CAIS Working Group discussed reporting for independent registered representatives, reporting accounts for the United Nations, CAIS production refresh requests, and Material Inconsistencies for multiple Customer records for the same underlying Customer. The Working Group discussed the...

The first trade was executed on the Firm's SEC registered ATS, Aurora, and centrally cleared and settled via the SFT Clearing Service on Thursday, October 6, 2022, at 2:26 pm ET. Provable Markets leveraged its integration with FIS Loanet to ensure that the positions were accurately reflected in the Books & Records system for both lender and borrower, in near-real time. Cloud-native Aurora is one of two Approved SFT Submitters for the DTCC's new Service, and the only regulated access point. Aurora provides a full suite of functionality for users, from traditional workflows, towards order...