The series will include multiple panels for FIF Members that will address the implementation considerations of the 898 page Rule. The kickoff panel on January 25th at 4PM ET will focus on the Rule Overview and will be presented by Wayne Aaron of Vedder Price in a conversation with 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 representatives from Cboe, Exegy, Georgetown...

Broadridge Financial Solutions, Inc. has launched Broadridge Proxy Policies & Insights (PPI) Data, a comprehensive platform providing an open data-feed of proxy voting data and analytics. This new platform, which will leverage Machine Learning (ML) services from Amazon Web Services (AWS), provides broker-dealers, institutional investors, mutual funds, retail investors, regulators and academics with access to over 5 million proxy voting data points, from more than 85,000 meeting agendas and a wide coverage of regulatory documents.

Data and analytics provider IHS Markit has expanded its regulatory reporting offering with the acquisition of compliance technology firm Cappitech. The move follows the May announcement by US derivatives exchange CME Group that it would be winding down its regulatory reporting businesses at the end of 2020. Cappitech’s cloud-based platform is used by more than 200 buy and sell-side firms. The acquisition of the firm by IHS Markit will offer it an edge in this newly competitive market and significantly expand its regulatory reporting offering to the financial industry.

BNY Mellon and Amundi announced a transatlantic collaboration to power growth of both companies by integrating complementary capabilities and establishing new integration points between the firms. This alliance immediately translates in the technological integration of BNY Mellon OMNI, a client- and data-centric securities services platform, and Amundi’s ALTO, its portfolio management system, across multiple areas that aim to deliver significant benefits, including integrated portfolio management and risk management tools, and operational...

Intercontinental Exchange announced that Bakkt Holdings, LLC (“Bakkt”), the transformative digital asset marketplace launched in 2018 by ICE and a marquee group of investors and strategic partners, has entered into a definitive agreement to combine with VPC Impact Acquisition Holdings, a special purpose acquisition company sponsored by Victory Park Capital (“VPC”). The business combination between Bakkt and VIH values the combined company at an enterprise value of approximately $2.1 billion, according to a story in MarketsMedia news.  The newly combined company will be renamed Bakkt...

The London Stock Exchange Group (LSEG) has received approval from the European Commission for its $27 billion acquisition of Refinitiv following an in-depth investigation into the mega-merger. The LSEG said in a statement that following the approval, the transaction remains subject to a small number of merger control and financial regulatory authority approvals but that it expects the deal to be completed within Q1 of this year.

FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group discussed issues raised by FIF Members, including reporting for GTX orders, reporting for DRP and DSPP/ESPP scenarios, reporting buy-in capacity, and reporting manual multi-leg scenarios. The Working Group prepared and submitted recommendations to FINRA CAT for the reporting of allocation cancels. The Working Group reviewed FINRA CAT FAQ updates relating to TRF reporting. The Working Group prepared and reviewed responses to FINRA CAT relating to order receipt and acceptance. The Working Group reviewed the January 8 FINRA...

FIF Back Office Committee. On January 19, Stephen Prosperi from the DTCC will provide the Back Office Committee with an overview of Project Whitney, which acts as a follow-up to our December spotlight in which DTCC presented on Project ION.  Broker-Dealer Trading and Custody of Digital Asset Securities. On January 19, Lilya Tessler, a partner and head of Sidley’s NY FinTech and Blockchain group, will discuss regulatory developments related to the emerging digital asset securities market. The discussion will include a presentation on the recent SEC Statement on Custody of Digital Asset...

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 12 FIF held an initial call with the FIF TRACE Working Group to discuss the rule proposal in anticipation of submitting a comment letter. The next Working Group call is scheduled for today (1/19) at 3pm ET.