The next call for the Tax Information Reporting Working Group will be on Tuesday September 30 at 3 pm ET. Representatives from Wolters Kluwer will discuss inaugural 1099-DA reporting season concerns. 

SLATE Working Group. SLATE Working Group members updated the full Working Group on discussions with FINRA relating to SLATE reporting. The Working Group discussed recommendations to the SEC and FINRA on how cumulative end-of-day reporting should be implemented. The Working Group discussed the current actions that firms are taking relating to SLATE implementation in response to the 5th Circuit court decision remanding the securities loan reporting back to the SEC. Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates...

Miami International Holdings, Inc. announced the launch of the MIAX Sapphire® options trading floor in Miami, Florida. MIAX Sapphire is the first national securities exchange to open a trading floor in Miami and only the second open outcry trading floor to launch in the last 50 years. The 38,400-square-foot facility spans the ninth floor of the 545 Wyn building in Miami's Wynwood district, with panoramic views of the city's skyline. Its features include a state-of-the-art trading floor, office space, conference facilities and a Bloomberg TV broadcast studio. The trading floor was designed...

LSEG has launched an Add-in on Workspace for licensed Microsoft 365 users. The new add-in will allow users to access and display data through updated software that simplifies formulas, enriches visuals, and provides annotation and charting features. The Workspace Add-in extension will enhance the creation of pitchbooks and charts and fine-tune the search and content-sharing functions. LSEG initially signed a £2.3 billion deal with tech giant Microsoft in December 2022.   

Cboe Europe Derivatives (CEDX) is set to launch Cboe Flexible Exchange options (FLEX options) in Europe to enhance risk management tools for institutional investors in the region.  According to a story in The Trade news, the new contracts are expected to go live in Q1 2026, subject to external assessments, and will provide a regulated exchange environment which allows market participants to customize key contract terms such as strike price, expiration date, settlement type and exercise style for stock indices, individual equity and ETF options. Initially, FLEX options will be...

Jefferies Financial Group, Inc. and Sumitomo Mitsui Financial Group, Inc., Sumitomo Mitsui Banking Corporation, and SMBC Nikko Securities Inc. announced that they are significantly expanding their Global Strategic Alliance. According to a story in MarketsMedia news, SMBC Group and Jefferies initially entered into a Strategic Alliance in 2021 to collaborate on future corporate and investment banking business opportunities. In 2023, the Alliance was expanded to enhance collaboration across M&A, equity and debt capital markets, with a particular focus on investment grade clients in the...

Financial services platform Marex has cleared the first ever US Treasury (UST) delivery on FMX Futures Exchange.  According to a story in The Trade news, the offering is set to provide Marex’s clients with opportunities to save capital, made possible through the firm’s clearing partnership for interest rate swaps with LCH, as well as offer access to competitive offsetting between UST futures positions on FMX and LCH IRS portfolios.  The move follows the launch of FMX in September 2024 through a partnership with BGC and a consortium of investment banks and...

FIF is excited to announce our annual Chicago event, sponsored by Cboe Global Markets. After opening remarks from Kevin Carrai of Cboe Global Markets, there will be two panels, one focusing on options trading and market developments and the other panel focusing on market data and technology. For the options trading and market developments panel, the panelists will be: Gregg Berman of Citadel, Andy Bevers of Cboe Global Markets and Ellen Greene of IMC. For the market data and technology panel, the panelists will be: Tom Jordan of Jordan & Jordan, Raymond Tsui of SS&C and Jeff...

On September 9, FIF submitted a comment letter to the SEC in response to the rule filing by FINRA to extend the hours of operation of the FINRA/Nasdaq and FINRA/NYSE Trade Reporting Facilities. FIF would like to thank the members of the TRF / ORF Working Group for their contributions in the drafting of this comment letter.