Jim O’Donnell, Chairman and CEO of St. Louis based, Exegy, Inc., announced the promotion of Rod Arbaugh and David Taylor as Co-Presidents of the Company. Arbaugh joined Exegy in 2004 after holding various positions with Mentor Graphics and Tibco.  He holds a Master’s Degree in Electrical Engineering and a Master’s Degree in Business Administration from Santa Clara University.  At Exegy, Arbaugh will continue to serve as the Company’s Chief Operating Officer.  He has previously led the Engineering, Service and Sales teams for the Company.  O’Donnell said, “The Board...

FIF CAT Committee and Tech Specs Working Group. The CAT Tech Specs Working Group reviewed draft comments and questions to submit to FINRA CAT relating to the following: equity orders combined with an unlisted option order at a net price; listed option orders combined with an unlisted option order at a net price; reporting of a customer modification or cancel received and processed directly by a downstream desk; and TRF cancels, corrects and reversals. FIF submitted these comments and questions to FINRA CAT. The Working Group reviewed guidance provided by FINRA CAT relating to the OFF,...

On January 26, FIF submitted comments to FINRA CAT in response to the CAT CAIS Specifications published by FINRA CAT on January 19. On January 27, FIF submitted comments and questions to FINRA CAT based on issues raised by FIF Members.

On December 23, 2020, FINRA issued a request for comment on Enhancements to TRACE Reporting for U.S. Treasury Securities. The proposed changes could require significant changes to trade execution and reporting systems for U.S. Treasuries as well as trading and reporting workflow changes. On January 26 FIF held a call to review a draft comment letter on the FINRA Regulatory Notice. The next Working Group call is scheduled for February 2 to continue the review of the draft comment letter. 

On January 28, 2021, OFAC issued General License No. 1A and new FAQs 878 and 879 providing relief relating to an entity whose name closely matches, but does not exactly match, the name of a Communist Chinese military company.

The series will be multiple panels for FIF Members that will address the implementation considerations of the 898 page Rule. The kickoff panel later today at 4PM ET will focus on the Rule Overview and will be presented by Wayne Aaron of the Vedder Price law firm in a conversation with Matt Billings of Two Sigma and Tom Jordan, Chair of the FIF Advisory Committee. Topics in the series include: The Data, Governance & Pricing, Competing Consolidators, Self-Aggregators, Transition and Dates, Retail/Institutional and Buy-Side considerations. Committed speakers to date include...

Refinitiv is expanding the scope of its data-driven due diligence reports with the addition of cybersecurity and company credit risk ratings from BitSight and Creditsafe. The data partnerships follow Refinitiv’s recent inclusion of ESG data and its acquisition of The Red Flag Group. The addition of cybersecurity and credit risk ratings is in response to the myriad of legal and regulatory obligations organizations face when dealing with third parties.

To help companies and investors enhance their Environmental, Social and Governance (ESG) programs, Broadridge Financial Solutions, Inc. and Third Economy, a leader in sustainable investment research and advisory services, have launched an ESG Advisory Service. This new service, leveraging proprietary data, will help corporate issuers and asset managers improve sustainability strategies while effectively positioning their ESG programs with stakeholders. This new ESG Advisory Service combines Broadridge’s data, technology and communications expertise and Third Economy’s...

Imandra Inc., a leader in cloud-scale automated reasoning, and Itiviti, a leading technology and service provider to financial institutions worldwide, announced the integration of Imandra’s enhanced Core Reasoning engine into Itiviti’s FIX certification and onboarding solution, Conductor. With improvement in Imandra’s reasoning speed over prior state-of-the-art, Conductor can now certify counterparties in hours rather than days according to a story in Markets Media news. The financial services industry has historically addressed software reliability and meeting related regulatory compliance...