Liquidnet, the global institutional investment network, announced the launch of Liquidnet Primary Markets, a new offering providing an electronified Debt Capital Markets (DCM) workflow for new issue announcements alongside a new protocol for trading new issues. Integrated into the existing Liquidnet Fixed Income trading application, the DCM workflow provides a dashboard of new issue announcements. It will also be available to non-trading desk users, such as portfolio managers, analysts, and compliance teams, through a web-based portal. The New Issue Trading protocol enables Members to trade...

Cboe Global Markets, Inc. announced that its Chairman, President and CEO Ed Tilly has been appointed Chairman of the World of Federation of Exchanges (WFE), the global industry group for exchanges and clearinghouses (CCPs) around the world. Mr. Tilly was previously Vice Chairman of the WFE from 2018 to 2021 and began serving a two-year term as Chairman of the WFE on September 9. As Chairman of the WFE, Mr. Tilly will work with WFE CEO Nandini Sukumar and its board and members to advance the organization's mission to foster well-functioning capital markets, reinforce systemic stability,...

FIF CAT Tech Specs Working Group. The Tech Specs Working Group reviewed draft comments and questions for FINRA CAT on reporting request events for sponsored broker workflows, rejections of route cancel requests, reporting the LCE handlingInstruction, reporting multiple cancel requests for a single orderID, reporting mass cancels, and the pairedOrderID field. The Working Group discussed new FAQ D37 relating to reporting the DIR handlingInstruction for sponsored access and DMA workflows. The Working Group discussed FINRA’s plans for retirement of EBS. The Working Group discussed issues and...

FIF will be hosting two webinars on best execution across asset classes. The first webinar, on Monday, September 27, 2021 from 4-5 pm ET, will focus on best execution for equities and options. The second webinar, on Tuesday, September 28, 2021 from 4-5 pm ET, will focus on best execution for fixed income and crypto-currency. Participants on the first panel include Wayne Aaron of the Vedder Price law firm, Brent Arnold of TD Ameritrade, Nate Pomeroy of Wolverine, and Peter Weiler of Abel Noser. Participants on the second panel include Constantinos Antoniades, adviser to TP ICAP, Mark Davies...

On August 10, 2021, FIF sent a survey to FIF members on Rule 605 for options. This is an opportunity for FIF members to provide input to the SEC before the SEC issues a rule proposal in this area. FIF requests that members provide their survey responses by September 13, 2021. Earlier responses also are welcome. All responses are anonymized. The FIF Rule 605 Working Group will meet on September 14, 2021 to review the FIF member responses.

Because of the Labor Day weekend, the monthly CAT Committee call for September has been moved from September 2 to September 9, 2021 at 2pm ET.

On September 9, 2021 at 11am ET, the FIF Reg SHO/Short Interest Reporting Working Group will continue its discussion of a draft comment letter on FINRA Regulatory Notice 21-19, “FINRA Requests Comment on Short Interest Position Reporting Enhancements and Other Changes Related to Short Sale Reporting”.

After a series of Working Group discussions, FIF has requested calls with the SEC Division of Trading and Markets personnel and the SEC Commissioners and their advisers to discuss look-through for Rule 606 reporting of options routing. FIF has scheduled calls with two of the SEC Commissioners for September and October. FIF will schedule the next Rule 606 Working Group call after the initial SEC call.

On August 12, 2021, FIF sent out a survey request to get feedback from FIF member firms on what they consider to be the most important open issues relating to CAT CAIS. The purpose for this survey is to assist the Working Group to identify the key open issues on CAIS and discuss any next steps for following-up with the regulators on these issues. All responses are anonymized. The FIF Cat CAIS Working Group has reviewed the responses received to date. FIF encourages members to continue to submit responses to this survey, as the Working Group will continue to review responses as they are...