FIF Rule 606 Working Group. The Rule 606 Working Group discussed questions from FIF members relating to reporting for Multi-Leg orders and reporting by an introducing broker that routes all orders to its clearing firm. The Working Group reviewed a draft request for exemptive relief relating to options look-through to be submitted by FIF to the SEC. FIF submitted this request to the SEC. The Working Group commenced its discussion of FINRA Regulatory Notice 21-35, “FINRA Requests Comment on Proposed Order Routing Disclosure Requirements for OTC Equity Securities and Potential Steps to...

Intercontinental Exchange, Inc. announced that it has expanded its environmental, social and governance (ESG) reference data platform to include high-quality, granular data that enables actionable comparisons across companies and sectors. The company also shared a selection of findings from across each of the three categories. ICE’s ESG reference data service now includes coverage of companies in key indices, including the ICE® U.S. 1000 Index, which measures the performance of the top 1,000 U.S. listed companies, representing some of the most well-known and largest...

Broadridge Financial Solutions, Inc.  announced the launch of the Broadridge Anti-Money Laundering Solution (AMLS), bringing new, capabilities to Broadridge’s existing Intelligent Automation suite. The new solution delivers an end-to-end machine learning (ML) powered Anti-Money Laundering platform covering transaction monitoring, name screening, alert prioritization, and customer risk scoring. The Broadridge AMLS is for firms and institutions looking to enhance their anti-money laundering surveillance to detect illicit money flows and bad actors. Broadridge’s product, powered by...

BNP Paribas’ Alternative Trading System (ATS) launch in the US is the latest major step in BNPP’s efforts to build out its equities complex with the ongoing migration of Deutsche Bank’s Prime Brokerage and Electronic Execution business. The ATS platform builds on the Bank’s existing Cortex platform across equities, FX, rates, and listed derivatives. In addition, the offering complements BNPP’s recent acquisition of Exane, the cash equities business including equities research. Within electronic trading, BNPP has the full suite of algorithmic trading products, smarter routers, and the...

HSBC launched HSBC MarketSpace, a platform that enables clients to access post-trade services and solutions from HSBC and other third-party service providers. This i approach allows clients to choose and connect seamlessly to their preferred service providers, with the ability to select products and services best suited to their needs. Instead of having to establish and maintain a complex network of bilateral relationships throughout the post-trade value chain, HSBC MarketSpace offers multilateral connectivity to services and data. The open architecture allows partners to develop...

DigiPlex, the Nordic provider for scalable, sustainable and secure data centers, has attracted Virtu to its Stockholm Data Center. Virtu uses cutting-edge technology to deliver liquidity to the global markets and transparent trading solutions to its clients. The low-latency connectivity, green credentials and strength of the co-located ecosystem within the DigiPlex facility were all key to Virtu’s decision. Virtu leverages cutting-edge technology to provide execution services, data, analytics and connectivity products to its clients and deliver liquidity to the global markets. The company...

FIF CAT Committee. The CAT Committee reviewed guidance and updates from the SROs on CAT transaction reporting and CAT CAIS reporting during the prior month. The CAT Committee reviewed the current areas of focus for FIF members and the current open issues for CAT transaction reporting and CAT CAIS reporting. FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the most recent updates to the Phase 2d Reporting Scenarios. The Working Group discussed the recent CAT Costs and CAT Funding webinars. The Working Group discussed various issues and questions from FIF members...

On Tuesday October 12, 2021 at 11am ET, Peter Chan and Valerie Mirko of the Baker McKenzie law firm will discuss the recent SEC fines against firms for failure to protect personally identifiable information (PII) of customers. This will be a spotlight presentation during the October Cybersecurity Working Group call. The invite for this presentation has been sent to all members of the FIF Cybersecurity Working Group and the newly-created FIF Compliance Working Group. If you are interested in participating on this call and do not have the invite in your calendar, please update your profile...

FIF is creating a new Compliance Working Group. To sign up for this new working group, update your profile here.