The FIF Rule 606 Working Group will meet on Tuesday February 1 at 2pm ET to discuss a draft interchange report to facilitate Rule 606(a) options reporting for future reporting periods based on SEC guidance, reporting for cash value orders that involve fractional shares, and the FINRA rule proposal to require reporting for routes in OTC equities.

On January 19, 2022, FIF submitted a comment letter on the SEC’s rule proposal to create a new securities loan reporting system. FIF would like to thank the members of the FIF Securities Lending Transparency Working Group for their contributions in the drafting of the comment letter.

The FIF TRACE Working Group will meet on Tuesday January 25 at 2pm ET to discuss the rule adopted by the Federal Reserve Board to expand TRACE reporting for Treasury and Agency securities to certain depository institutions that are not broker-dealers, interpretive questions relating to the new proposed portfolio trade modifier, the recent filing by the SEC to extend the time period for SEC action on FINRA’s proposed rule change to require FINRA members to append modifiers to delayed Treasury spot trades and portfolio trades when reporting to TRACE, and the recent SEC order approving the...

The FIF Front Office Committee will meet on Tuesday January 25 at 11am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges.

The FIF Data and Technology Committee will meet on Wednesday January 26 at 10am ET to review capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. Tim Baker, CFA, will present on the acquisition of CUSIP by FactSet.

FIF Back Office Committee. The FIF Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Matt Cohen, CEO of Provable Markets, presented on his firm’s role as an Approved SFT Submitter for the DTCC Securities Financing Transaction Clearing Service, which is currently under review by the SEC. Please find the Agenda here. FIF Securities Lending Transparency Working Group. The Securities Lending Transparency Working Group completed its review and drafting of a comment letter on the SEC’s November 18 rule proposal to create a...

Exegy Inc. announced record-breaking sales growth in 2021 and for the quarter ending December 31. Exegy added 15 new clients in the fourth quarter, delivering 48% growth from Q3 and 55% revenue bookings growth compared to the same period last year. These results are driven by an expanded and integrated portfolio of low-latency market data and execution solutions, predictive trading signals, and hardware-acceleration technology following the May 2021 merger with Vela Trading Systems. Exegy is committed to meeting the ongoing demand for innovative, cost-effective approaches to...

Euronext’s recent announcement of its intended move from the Basildon data centre, in the UK, to Bergamo in Italy, is making waves amongst equity market participants. Euronext’s decision is primarily due to Brexit considerations, such as the post-Brexit shift in European share trading from London to Amsterdam. For the exchange operator, it therefore makes sense to consolidate its operations in a single, EU based data centre – and keeps other key stakeholders, such as EU regulators, happy as well. In this article, the author discusses solving trading challenges in a post-Brexit world, as...

Citi and Bloomberg announced an integration between Bloomberg’s BSKT service with Citi’s proprietary ACES (Citi Advanced ETF System) platform to better support Citi’s ETF clients who use BSKT to negotiate fixed income baskets. BSKT is a primary market solution for negotiation, ticketing and routing ETF creation and redemption transactions. ACES features a suite of efficient workflow tools that fully automates the entire ETF process reducing time to market and cost to issuers. The two solutions provide an optimized basket negotiation experience for mutual ETF clients who...