Scotiabank introduced ScotiaRED – a series of state-of-the-art electronic trading tools, to deliver high-quality execution to Equities, Fixed Income, and FX clients that includes the use of advanced analytics such as artificial intelligence. ScotiaRED provides global Equities clients access to Scotiabank's leading edge execution technology and in-depth market structure analysis, including new customizable trading algorithms, data-driven insights and access to the Bank's unique liquidity.

Bloomberg has launched a new pre-trade transaction cost analysis (TCA) model that helps market participants to assess trade cost, daily executable volume, and probability of execution. According to a story in The Desk news, the new model provides pre-trade analysis for investment grade and high yield corporate and sovereign bonds across the globe and offers a liquidity tree across various order sizes. In addition to assessing trade costs, clients can analyze daily executable volume and probability of execution to better inform their trading and portfolio construction decisions. Clients can...

IEX Exchange announced that it has convened leading retail brokerage firms to examine how market structure could change in response to the recent uptick in retail investor participation in the equities market. Nearly a dozen retail brokers have joined IEX Exchange’s Retail Trading Advisory Committee (RTAC). RTAC participants are meeting to evaluate how market infrastructure, and rules governing market operations, can and should evolve as retail participation in the equities market continues to grow. The RTAC provides a venue to discuss opportunities to innovate and champion the interests of...

FIF will be hosting two webinars on best execution across asset classes. The first webinar, on Monday, September 27 from 4-5 pm ET, will focus on best execution for equities and options. The second webinar, on Tuesday, September 28 from 4-5 pm ET, will focus on best execution for fixed income and cryptocurrency. Participants on the first panel include Wayne Aaron of the Vedder Price law firm, Brent Arnold of TD Ameritrade, Craig Murray and Nate Pomeroy of Wolverine, Michael Post of BXS, and Peter Weiler of Abel Noser. Participants on the second panel include Constantinos Antoniades, adviser...

On October 12, 2021, 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 will be sent to all members of the FIF Cybersecurity Working Group and the newly-created FIF Compliance Working Group. The invite has not been sent out yet, so if you are interested in participating on this call, please update your profile and add yourself to...

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

The upcoming amendments to SEC Rule 15c2-11 provide an exception from the issuer information requirements that allows for the display of an unsolicited customer order where the customer is not an insider or affiliate of the issuer. FIF members that are retail brokers have identified challenges in complying with this exception. FIF has scheduled a call on this topic for today (September 20) at 1pm ET. If you are interested in participating on this call, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

The Depository Trust & Clearing Corporation (DTCC) announced that its Project Ion initiative, an alternative settlement platform that leverages distributed ledger technology (DLT), will move into a development phase following a successful prototype pilot with leading market participant firms. With six months of testing of the “proof of concept” now complete, DTCC has the quantitative data and qualitative feedback to build out a production-ready workflow and a roadmap for future full industry integration and adoption subject to regulatory approval. Specifically modeled around a netted...

Cboe FX Markets announced the launch of a hosted algorithmic execution service in collaboration with electronic liquidity provider XTX Markets. According to a story in MarketsMedia news, this service will help enable Cboe FX participants to access the XTX Markets Execution Algo (‘XTX Algo’), which is designed to alleviate implementation shortfall, via the Cboe FX ECN. Cboe FX has been granted exclusive rights over use of the XTX Algo in the anonymous ECN space and this service is available for execution of the most actively traded pairs in the spot FX market, including: EUR/USD; USD/JPY;...