Front Office Committee. On June 22, Chris Bok of OTC Markets will discuss the upcoming implementation of the amendments to SEC Rule 15c2-11 (“Publication or submission of quotations without specified information”), including rule changes, implementation status, and the status of impending guidance from the SEC. Data and Tech Committee. On June 30, Patrick Flannery of MayStreet will discuss “Market Data Delivery in the Cloud - Lessons Learned”.

On July 1 at 11 am (ET), Mark Fitterman and Gavin Meyers of the Baker McKenzie law firm will present on FINRA Regulatory Notice 21-19 relating to “Short Interest Position Reporting Enhancements and Other Changes Related to Short Sale Reporting”. FIF has invited members of the Reg SHO Working Group and the Back Office Committee to this presentation. If you were not sent an invite and would like to join this presentation, please email the program office at This email address is being protected from spambots. You need JavaScript enabled to view it.. 

Please join us for our next FIF webinar which is the  “SEC Market Access Rule” that will take place on July 8th at 4pm ET. This webinar will focus on the rule's practical aspects, setting credit limits, the handling of market orders, the process for overriding limits, challenges of meme stocks, the annual CEO certification, enforcement trends, and more. The panel includes Jim Dolan of Luminex, Lillian Tan of Cantor Fitzgerald, Wayne Aaron of Vedder Price and will be moderated by Tom Jordan, FIF Advisory Chair. After registering, you will be prompted to follow a link to Zoom, in order...

The next meeting of the FIF Rule 606 Working Group will be held on June 22 at 3 pm (ET). The Working Group will review a draft letter from FIF to the SEC requesting that the SEC issue updated FAQs on various topics, including options look-through, the Rule 606 definition of customer, and various ATS reporting scenarios.  

The next meeting of the FIF Rule 605 Working Group will be held on June 24 at 2 pm (ET). The Working Group will discuss a request from the SEC to provide feedback on a Rule 605-like execution quality report for options that the SEC is considering.

FIF has submitted a request to extend the Phase 2d requirement to report tidType in allocation events. FIF will soon be submitting a similar extension request for the reporting of route modification and cancel rejections.

FIF Back Office Committee. On June 15, Bill Kapogiannis and Diana Confessori-Simmons of DTCC  discussed the DTCC data warehousing initiative. Please find the full agenda here.  FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the request filed by the Plan Participants with the SEC to move the reporting of unique Order IDs on internal route events from Phase 2d to August 1, 2023. The Working Group discussed responses provided by FINRA CAT to FIF and the FIF Co-Chairs relating to Order Route Cancel and Modification Supplement events, reporting Route...

Refinitiv FXall has set out plans to connect with the London Stock Exchange Group’s clearinghouse LCH for FX OTC transactions. Traders on FXall will gain a quicker way of clearing non-deliverable forwards (NDFs) trades through LCH’s ForexClear service. The connection is expected to go live in the fourth quarter of this year, subject to regulatory approval according to The Trade news. It will offer traders a choice on which of trades get cleared based on the liquidity provider, currency pair, or account they are trading for. Trades will be routed to LCH...

Ray Tierney has been appointed president of trading technology provider Itiviti following its acquisition by Broadridge Financial Solutions. He joins Itiviti in the senior role one month after Broadridge completed its $2.5 billion takeover of the firm to expand its capital markets offering. Rob Mackay, who has been CEO of Itiviti since 2019, has been appointed senior advisor. Tierney was formerly CEO of Bloomberg Tradebook and global CEO of trading solutions at Bloomberg LP. As part of the role, he led the design, development and operations of the firm’s multi-asset, buy- and sell-side...