Cboe’s announcement that it will use cloud data specialist Snowflake for its data and analytics migration, is the latest in what has been a string of announcements from major financial institutions looking to upgrade systems in partnership with technology firms. According to a story in the Tabb Forum, Cboe’s move to the cloud follows Google’s $1 billion investment in derivatives exchange CME last November, while NatWest Markets recently announced plans to transition to Google cloud. Some of the biggest names in capital markets moving away from on-premises environments signals that cloud...

MEMX, a market operator founded by a diverse group of participants, announced that the Securities and Exchange Commission has approved MEMX’s rule filing to launch a platform for trading listed options. The U.S. options exchange, MEMX Options, will leverage the strengths of MEMX’s data-centric exchange architecture and state-of-the-art infrastructure. The exchange will use a price time-model and is expected to launch in early 2023. Since launching in the fall of 2020, MEMX has quickly grown to become a large independent U.S. equities exchange and a significant source for liquidity in cash...

Cürex Group has announced that Barclays has become the seventh bank to join its peer-to-peer FX matching platform that launched in August 2021. According to a story in The Full FX news, the platform enables the buy side to anonymously match against each other at the mid‐point derived from the FTSE Russell/Cürex benchmark rates, customers can choose to show their trading interest to the peer-to-peer pool through their bank algorithms which can continue to work their algo trades while gaining exposure to the Cürex peer to peer platform. “Given the breadth of our buy side client base, it was...

The next call for the FIF OTC Options Reporting Working Group will be on Monday August 8 at 11 am ET. The Working Group will review the first draft of a comment letter on FINRA Regulatory Notice 22-14, “OTC Options Reporting: FINRA Requests Comment on Proposed Trade Reporting Requirements for Over-The-Counter Options Transactions”. If you would like to be added to this Working Group, please update your profile or send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

FINRA CAT has requested a call with FIF members to discuss current industry practices relating to clock synchronization and electronic timestamp increments. On Monday August 8 at 2 pm FIF will host a prep call in advance of the call with FINRA CAT. The call with FINRA CAT has not yet been scheduled. This prep call is open to all members of the FIF CAT Transaction Reporting Working Group, whether or not you are planning to participate on the call with FINRA CAT. If you would like to participate on the call with FINRA CAT, please send a note to This email address is being protected from...

The next call for the TRACE Working Group will be on Thursday August 11, 2022 at 3 pm ET. The Working Group will review and discuss FINRA Regulatory Notice 22-17, “TRACE Reporting Timeframe: FINRA Requests Comment on a Proposal to Shorten the Trade Reporting Timeframe for Transactions in Certain TRACE-Eligible Securities From 15 Minutes to One Minute”. The Working Group also will discuss the August 1, 2022 response letter from FINRA on SR-FINRA-2022-011, “Proposed Rule Change to Expand TRACE Reporting Requirements to Trades in U.S. Dollar Denominated Foreign Sovereign Debt...

The next Back Office Committee call will be on Tuesday August 16 at 11 am ET. The spotlight presenter will be Renuka Gupta of OASIS Pro Markets, who will discuss using the blockchain for trading and settlement of transactions in digital asset securities.

The next Data and Technology Committee call will be on Wednesday August 24 at 10 am ET. The spotlight presenter will be John Owens of IPC, who will discuss Maximizing Infrastructure Performance for Rising Market Data Volumes.

On August 1, FIF held its ninth installment of the webinar series on the Market Data Infrastructure Rule. This webinar focused on the CTA/UTP governance court ruling, new administrative and voting structure, known issues within the context of the rule and the potential way forward. The discussion was led by Tom Jordan, FIF Advisory Chair, Kerry Baker Relf of Refinitiv/LSEG, Bill Conti of Goldman Sachs, and John Ramsay of IEX. If you are a FIF Member and you missed out on this webinar and would like to review the recording, please email us at This email address is being protected from...