Raymond James Financial President John Carson will retire as president at the end of the month and Paul Allison, chairman and CEO of the firm’s Canadian subsidiary, will cede his roles and transition to the new position of executive chairman, also at year-end. Carson, who was formerly CEO at Morgan Keegan, which Raymond James acquired in 2012, will also step down as head of the firm’s fixed income and public finance divisions. Horace Carter, currently executive vice president of fixed income capital markets, will succeed Carson as president of fixed income and join the...

Bloomberg has launched a set of CSDR penalty, eligibility, and workflow tools to help buy- and sell-side firms minimize penalties and augment successful settlement rates. CSDR’s Settlement Discipline Regime (SDR), which is due to come into effect in February next year, requires firms across the street to pay penalties if trade exceptions are not quickly resolved. The FailStation workflow tools will allow clients to prioritize fails based on the penalty size, as well as isolate eligible CSDR transactions and initiate the resolution process by sending automatic notifications to...

Intercontinental Exchange Inc. said it named Sharon Bowen as next chair of the New York Stock Exchange. Ms. Bowen is a finance and securities lawyer and formerly a commissioner of the Commodity Futures Trading Commission, ICE said. Lynn Martin, currently president of ICE Fixed Income and Data Services, has been appointed the next president of the NYSE, succeeding Stacey Cunningham, who will join the board of directors of the NYSE, the company said. Hope Jarkowski, formerly the co-head of government relations at ICE and currently the NYSE's Head of Equities, will become its general...

Deutsche Bank has released an updated version of its CSDR settlement discipline regime toolkit, which aims to give clients information on how to prepare ahead of the Central Securities Depositories Regulation’s (CSDR) Settlement Discipline Regime (SDR) on February 1, 2022. The bank originally published its first client toolkit in September 2019, however, the road to CSDR has been met with several challenges. The implementation date for CSDR has changed twice, with the omission of the mandatory buy-in rules most recently confirmed on November 24 via the passage of the DLT Pilot...

Intercontinental Exchange announced it will begin offering leveraged bank loan reference data through its ongoing collaboration with U.S. Bank. The offering will provide investors and other market participants with high-quality and detailed reference data from the largest administrator of loans in the United States. ICE’s new solution offers more than 130 different reference data fields, including terms and conditions, corporate actions and business entity structures, designed to make it easy for users to characterize and compare different loans. This service is built into ICE’s leading...

The U.K. Financial Conduct Authority granted Fidelity Digital Assets registration for its digital asset custody and trade execution services, according to a story in The Block news. Previously, the firm was listed as a temporary member, but the FCA has now moved it to the permanent register. With this comes a money laundering regulations (MLR) license, meaning the FCA considers Fidelity compliant with money laundering regulations related to crypto. The FCA took over as the AML watchdog for crypto firms operating in the UK at the start of 2020, and it swiftly introduced a...

Refinitiv FXall has expanded FX traders’ access to cleared workflows for FX OTC trades by building connectivity to LCH ForexClear from Settlement Center, FXall’s post-trade processing platform. This change gives FXall users a streamlined and quicker way of clearing NDF trades through LCH ForexClear. The new connectivity to LCH ForexClear allows FXall clients to access the risk management and efficiency benefits of clearing by electing to clear their NDFs post-trade in Settlement Center. The implementation of Phase 5 of the Uncleared Margin Rules (UMR) in September 2021 is causing buy-side...

FIF has scheduled the Annual FIF CAT Webinar for Thursday December 9 at 4pm ET. The panel participants are Shelly Bohlin of FINRA CAT, Jon Kroeper of FINRA, Will Leahey of Refinitiv, and Mitvin Shah of Société Générale. Tom Jordan of Jordan & Jordan will act as the moderator in this discussion. To attend this webinar, please register here. If you have any questions, please email us at This email address is being protected from spambots. You need JavaScript enabled to view it.. 

On December 2, 2021, FIF submitted a comment letter in response to FINRA Regulatory Notice 21-35, “FINRA Requests Comment on Proposed Order Routing Disclosure Requirements for OTC Equity Securities and Potential Steps to Facilitate Investor Access to Current Order Routing Disclosures for NMS Securities”.