Miami International Holdings, which has built and operates regulated markets in traditional finance, has completed an initial public offering. Miami International Holdings (MIH) has built and operates regulated financial markets powered by proprietary technology which has been built in-house according to a story in MarketsMedia news. The MIAX Exchange trading platform was originally built to meet the high-performance quoting demands of the U.S. options trading industry and the firm argues it is differentiated by its throughput, latency, reliability and wire-order determinism. Thomas...

Broadridge Financial Solutions has entered a strategic partnership with BMLL Technologies in a bid to integrate pre-trade analytics into its global sell-side, and Japanese buy-side, trading participants.  According to a story in The Trade news, Broadridge is integrating BMLL’s pre-trade analytics into the firm’s sell-side global order management system (OMS) and buy-side execution management system (EMS) – Xilix – in Japan as it seeks to provide clients with new pre-trade capabilities.  The integration is set to enable clients of both workflows to gain immediate access...

FIF is pleased to announce our first ever Boston event. The live, in-person event will take place on September 2nd from 5-8 pm ET at the Fidelity Investments offices. The event will be co-sponsored by Fidelity Capital Markets and LeveL Markets. The first panel will be titled: Equities, Options, Fixed Income, Technology, and Data in an Atkins Administration. The moderator of this panel will be Ashley Banfield of Fidelity Investments. The panelists for the first panel will be: Steve Miele of LeveL Markets, Adam Nunes of Hudson River Trading, Rich Steiner of Piper Sandler,...

On August 4, FIF submitted to the SEC a revised draft of a request for a permanent exemption relating to CAT representative order linkage.

On August 6, FIF submitted a comment letter to the SEC in response to the rule filing by FINRA to extend the TRF hours of operation. FIF would like to thank the members of the TRF / ORF Working Group and the 24x7 Trading Working Group for their contributions in the drafting of this comment letter.

On August 7, FIF submitted a letter to the SEC to highlight the need for regulatory clarity for broker-dealers on how to proceed with respect to CAT billing after the decision by the 11th Circuit Court of Appeals to vacate the SEC’s July 2023 CAT Funding Order.

FIF will be scheduling a joint call for the Data and Technology Committee and the Equity Market Regulations Working Group to discuss the documentation published by SIAC and the UTP relating to odd lot data being added to the SIP market data feeds. FIF plans to send an invite for this call later today.

The next call for the 24x7 Trading Working Group will be on Monday August 11 at 2 pm ET. The Working Group will discuss a revised draft FIF letter to the SEC relating to the planned expansion of exchange trading hours for US equities.

The Back Office Committee will have its next call on Tuesday August 12 at 11 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month.