The Rule 605 Working Group will have its next call on Monday March 2 at 3 pm ET. The Working Group will continue its discussion of a draft letter to the SEC relating to implementation of the Rule 605 amendments, including reporting for different order types and orders with different characteristics.

FIF has scheduled a call for the TRF/ORF Working Group for Tuesday March 3 at 10 am ET. The Working Group will discuss the recent rule filing by FINRA to provide a temporary exemption from real-time reporting for “qualified overnight transactions”.

The next call for the Digital Asset Securities Working Group will be on Tuesday March 3 at 2 pm ET.  The Working Group will discuss issues and questions from FIF members relating to the DTCC Tokenization Services and the SEC no-action letter to DTC. If you would like to participate in this discussion and are not a member of this Working Group, please update your FIF profile or send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

FIF has scheduled a call for the Data and Technology Committee for Wednesday March 4 at 11 am ET to continue the discussion of the upcoming dissemination of odd lot quotes by the SIPs, which is scheduled for production on April 27, 2026. 

The 24x7 Trading Working Group will have its next call on Thursday March 5 at 11 am ET. The Working Group will continue its discussion of issues raised by FIF members relating to the planned expansion of exchange trading hours.

The CAT Monthly Update Working Group call for March will be on Thursday March 5 at 2 pm ET. The Working Group will review guidance and updates from the CAT Plan Participants and FINRA CAT during the prior month. The Working Group will also review the current areas of focus for FIF members and the current open issues relating to CAT reporting.

Rule 605 Working Group. The Rule 605 Working Group discussed reporting by a firm with multiple reports for a single MPID, reporting the best available displayed price, and reporting the designated participant. The Working Group continued its discussion of Rule 605 reporting for various order types. TRF Fractional Shares. FIF hosted a call for the TRF/ORF Working Group to review a draft request for no-action relief that FIF submitted to the SEC relating to the dissemination of fractional shares by the SIPs and the obligations of broker-dealers under the vendor display rule. Trump...

According to Markets Media, BlackRock has appointed Citi Investor Services to provide select middle office functions for $4.0 trillion in U.S. domiciled iShares ETFs on the Aladdin platform. Expanding on the long-standing partnership between BlackRock and Citi, this integrated operating model streamlines the lifecycle of an ETF order, offering enhanced transparency into basket composition, order status, and settlement. Chris Cox, Head of Investor Services at Citi, said, “Expanding our ETF and middle office servicing capabilities is central to our ambitions to grow market share with...

According to CNBC, JPMorgan Chase CEO Jamie Dimon said the bank is taking steps to address the impact of artificial intelligence on its workers, and part of what he said should be a broader societal response to the potentially disruptive nature of AI. Dimon described at an investor meeting late Monday his bank’s internal plans to shift employees into new roles as automation accelerates. “We already have huge redeployment plans for [our] own people,” Dimon said. “In fact, we spoke about it today, and we have to up that a little bit so we can take people who are displaced — and we have...