On September 4, FIF submitted a letter to the SEC, CAT LLC, FINRA and FINRA CAT relating to reporting of the tradingSession field for expanded exchange trading hours. FIF would like to thank the members of the CAT Transaction Reporting and CAT Reference Database Working Groups for their contributions in the drafting of this letter.

FIF has scheduled the next call for the Equity Market Regulations Working Group for Tuesday September 8 at 1 pm ET. The Working Group will continue the discussion of FINRA Regulatory Notice 26-15 on modernizing FINRA’s best execution guidance.

The next call for the Rule 605 Working Group will be on Wednesday September 9 at 11 am ET. The Working Group will discuss issues and questions from FIF members relating to the recently-implemented amendments to Rule 605.

FIF has scheduled a joint call for the CAT Transaction Reporting and CAT Reference Database Working Groups for Wednesday September 9 at 2 pm ET. The Working Groups will continue their discussion of CAT updates for expanded exchange trading hours. The Working Groups will also discuss updates from recent calls with FINRA CAT.

The 24x7 Trading Working Group will have its next call on Thursday September 10 at 11 am ET. The Working Group will review a list of open issues and questions for the scheduled launch of expanded exchange trading hours on December 6, 2026.

FIF has scheduled a joint call for the SEC FINRA Regulations Working Group and the Compliance and Surveillance Working Group for Thursday September 10 at 2 pm ET. The Working Groups will review an updated Regulatory Implementations Presentation and Calendar, including updates on the following topics: expanded exchange trading hours; TRF extended hours; OTC Reporting Facility transition to Native FIX; Short Interest Reporting; CAT; extended options trading hours; Cboe Binary KPI Options; MEMX Securities Event Contracts; Nasdaq Phlx Bitcoin Index Options; Treasury clearing; the TRACE...

FIF has scheduled the next call for the Tax Information Reporting Working Group for Thursday September 24 at 3 pm ET. Representatives from Wolters Kluwer will discuss best practices and concerns related to basis and other information for transferred securities.

Rule 605 and 606 Working Groups. FIF hosted a joint call for the Rule 605 and 606 Working Groups. The Working Groups discussed the impact of Rule 605 changes on Rule 606 reporting. The Working Groups discussed whether an asset manager submitting orders through a single top-level account represents one or multiple accounts for purposes of the Rule 605 reporting threshold for broker-dealers. The Working Groups discuss ATS reporting scenarios. FINRA Best Execution Regulatory Notice. FIF hosted a call for the Equity Market Regulations Working Group to continue the discussion of FINRA...

According to Markets Media, Vanguard is closing the gap with BlackRock for assets under management in U.S.-domiciled exchange-traded funds, according to Morningstar. The data provider said in a report that the gap between the two ETF issuers was nearly $200bn in assets in 2024 but this is the first year that it has shrunk to less than $100bn. “Although these are still enormous sums of money, Vanguard briefly overtook BlackRock earlier this year before slipping back into second place by the end of June,” added Morningstar.