The Rule 605 Working Group will have its next call on Tuesday February 10 at 11 am 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.

The next call for the TRF/ORF Working Group will be on Tuesday February 10 at 1 pm ET. The Working Group will discuss a draft FIF letter to FINRA relating to the planned expansion of TRF operating hours.

The next call for the Digital Asset Securities Working Group will be on Tuesday February 17 at 2 pm ET.  The Working Group will discuss the amended rule filing by Nasdaq relating to tokenized securities and the Statement of the SEC’s Division of Trading and Markets on the Custody of Crypto Asset Securities by Broker-Dealers. The Working Group will also continue its discussion of the recent Statement of the SEC’s Divisions of Corporation Finance, Investment Management and Trading and Markets on Tokenized Securities and issues and questions from FIF members relating to the DTCC...

The 24x7 Trading Working Group will have its next call on Thursday February 19 at 2 pm ET. The Working Group will continue its discussion of issues raised by FIF members relating to the planned expansion of exchange trading hours.

TRF Fractional Shares. The TRF/ORF Working Group discussed a draft letter to the SEC and FINRA to request guidance that a broker-dealer is permitted to round or truncate fractional share quantities when displaying trade data to customers pursuant to the vendor display rule. SIP Odd Lots. FIF hosted a call for the Data and Technology Committee to discuss the upcoming dissemination of odd lot quotes by the SIPs, which is scheduled for production on April 27. The Committee discussed the recent exemption granted by the SEC relating to depth-of-book odd-lot quotes. The Working Group discussed...

Jeff Sprecher, Chair & Chief Executive of ICE, said in a story in Markets Media news that the firm is not pursuing tokenization as a novelty or as a substitute for how markets operate. “Today, we’re exploring tokenization as a potential evolution of existing market infrastructure,” he said. “One that could further improve capital efficiencies, broaden access and advance settlement processes, such as our recent announcements with BNY and Citi to accept tokenized collateral, all while preserving the safeguards governance and neutrality that institutional markets require, and that ICE...

Nasdaq announced that Japan Exchange Group’s Osaka Exchange (OSE) has selected Nasdaq’s advanced Eqlipse Trading and Market Surveillance technology platforms for its next-generation derivatives infrastructure. This strategic technology partnership represents a significant step forward in OSE’s modernization journey, positioning Japan’s derivatives market for enhanced global competitiveness and future growth opportunities. In an interview with MarketsMedia news, Ryusuke Yokoyama, President & CEO of OSE, said: “I am very pleased that we have selected Nasdaq as our development partner. We...

Global Fintech leader Broadridge Financial Solutions announced that it has entered into an agreement to acquire CQG, a leading provider of futures and options trading, execution management, and market connectivity. CQG will add complementary execution management, algorithmic trading, and analytics capabilities to Broadridge’s order management and client connectivity solutions, creating an end-to-end trading suite for global futures and options markets. “The acquisition of CQG will accelerate Broadridge’s mission to deliver advanced, highly connected trading solutions on a global...

Market data and technology provider Exegy is set to launch an overnight best bid and offer (OBBO) consolidated feed connecting Blue Ocean, Bruce and MOON’s alternative trading systems (ATS), marking an industry first, according to a story in The Trade news. By linking all three of the after-hours ATSs, the new offering is expected to allow market participants to capture liquidity currently not accessible on traditional exchange feeds outside of normal trading hours, to address a structural gap in overnight markets.  In addition, clients using the...