Bank of New York Mellon said it now employs dozens of artificial intelligence-powered ‘digital employees’ that have company logins and work alongside its human staff. According to a story in The Wall Street Journal, these digital workers have direct managers they report to and work autonomously in areas like coding and payment instruction validation. What the bank, also known as BNY, calls “digital workers,” other banks may refer to as “AI agents.” And while the industry lacks a clear consensus on exact terminology, it’s clear that the technology has a growing presence in...

FIF is pleased to announce our first ever Boston event. The live, in-person event will take place on September 2nd from 5-8pm ET at the Fidelity Investments office located at 245 Summer Street (next to Boston South Station). The event will be co-sponsored by Fidelity Capital Markets and LeveL Markets. Panel topics and speakers will be announced soon. The registration page for this event will be launched in short order, keep an eye out for that announcement. FIF would like to thank Fidelity and LeveL Markets for agreeing to sponsor this event.

On June 23, FIF submitted a letter to the CAT Plan Participants relating to CAT billing. On June 24, FIF submitted a letter to the CAT Plan Participants and FINRA CAT on pre-IPO orders and pre-corporate action orders. FIF would like to thank the members of the CAT Transaction Reporting Working Group for their contributions in the drafting of these letters.

FIF has scheduled the next call for the Short Sales / Reg SHO / Short Reporting Working Group for Monday June 30 at 11 am ET. The Working Group will discuss a revised draft of an FIF letter requesting an extension of the current compliance date for Form SHO reporting.

The next call for the 24x7 Trading Working Group will be on Monday June 30 at 2 pm ET. The Working Group will continue its discussion of implementation issues relating to the planned expansion of exchange trading hours for US equities. If you are interested in participating in this discussion and are not a member of this Working Group, please update your FIF profile to add this Working Group or send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

FIF has scheduled the next call for the OFR Repo Reporting Working Group for Tuesday July 1 at 10 am ET. The Working Group will discuss issues and questions from FIF members relating to the reporting of non-centrally cleared bilateral repos to the Treasury Department’s Office of Financial Research.

The next call for the SLATE Working Group will be on Tuesday July 1 at 11 am ET. The Working Group will review a draft letter to the SEC and FINRA relating to the implementation of SLATE reporting. The Working Group will also continue to discuss how FIF members plan to proceed on the various open interpretive issues relating to SLATE reporting.

The TRACE / RTRS Working Group will have its next call on Tuesday July 1 at 2 pm ET. The Working Group will discuss the first draft of an FIF comment letter in response to the recent rule filings by FINRA and the MSRB to maintain the 15-minute outer time limit for reporting to TRACE and RTRS.

FIF has scheduled a joint call for the CAT CAIS, CAT Transaction Reporting and EBS Working Groups for Wednesday July 2 at 11 am ET. The Working Groups will discuss a revised draft comment letter on the removal of PII from CAT and the retirement of EBS.