Exception Manager, the Depository Trust & Clearing Corporation (DTCC) platform to publish, manage and communicate trade exceptions, will now offer an optional Central Securities Depositories Regulation (CSDR) service to calculate predicted fail penalties. The calculation will prioritize exceptions by size of predicted penalty. A new linkage between Exception Manager and Central Trade Manager (CTM), DTCC’s central matching service for cross-border and domestic transactions, will also provide clients with direct access to golden source trade information to help prevent settlement fails....

Join us Thursday, November 11 at 4:15pm ET for part seven of our webinar series on the implementation considerations of the SEC Market Data Infrastructure Rule. Tom Jordan, FIF Advisory Chair, and Manisha Kimmel, Chief Policy Officer at MayStreet, will discuss the November 5th filing of the Plan Amendment by the SROs. The agenda will include a summary of the amendment, status of governance changes,  potential next steps and audience participation. In order to attend this webinar, please register here. If you have any questions, please email us at This email address is being protected...

On Wednesday, November 17 at 4pm ET FIF will host a webinar on Trading Digital Assets. This webinar will provide practical guidance to retail and institutional brokers and market makers on trading digital assets, including connectivity to venues, custody of digital assets and determining which products can be traded and offered to customers. Viktor Grinberg will moderate the panel. Panel participants include Alan Konevsky of tZERO, Mike Smith of IPC and Dave Weisberger of CoinRoutes. In order to attend this webinar, please register here. If you have any questions, please email us at This...

FIF Committee and Working Group calls currently are scheduled for one hour. In response to FIF member requests, going forward all FIF Committee and Working Group calls will be scheduled to end at :55 after the hour.

An FIF member has questions relating to the Supplemental Liquidity Schedule (SLS) recently adopted by FINRA (see FINRA Regulatory Notice 21-31) and would like to discuss these questions with other FIF members. The SLS takes effect on March 1, 2022. If you are interested in participating in an FIF member discussion on this topic, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it., and we will include you on the invite for this discussion.

The Rule 606 Working Group will meet on Thursday November 4 at 11am ET to continue its discussion of a draft comment letter on 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.”

On Thursday, November 18 at 3pm ET, the FIF Tax Information Reporting Working Group will meet for a spotlight presentation from Wolters Kluwer on SPAC tax issues. Stevie Conlon, Cynthia Lapins and Robert Schwaba will be the presenters. If you are not subscribed to this group and would like to listen in, email This email address is being protected from spambots. You need JavaScript enabled to view it. and I would be happy to forward you an invitation. 

Because of the large number of issues that the CAIS Working Group is currently reviewing, FIF has scheduled an additional call for this week on Monday November 1 at 11am ET to continue the Working Group’s review of the most recent updates to the CAIS Reporting Scenarios. This call is in addition to the standing Wednesday and Friday CAIS Working Group calls.

FIF Rule 606 Working Group. The Rule 606 Working Group discussed 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.” FIF Front Office Committee. The FIF Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. Please find this month's agenda here.  FIF Data and Technology Committee. Grant Leinberger from Exegy gave a...