The next call for the TRACE / RTRS Working Group will be on Tuesday April 29 at 2 pm ET. The Working Group will discuss current challenges with reporting factors to TRACE and a proposal from an FIF member to address this issue.

FIF has scheduled a joint call for the Rule 605 and Rule 606 Working Groups for Tuesday April 29 at 3 pm ET. The Working Groups will discuss draft FAQs relating to Rule 606(a) reporting to submit to the SEC. The Working Groups will also discuss a draft FIF comment letter on proposed FINRA Rule 6152, which provides for centralized reporting of Rule 605 reports to FINRA.

The Data and Technology Committee will have its next call on Wednesday April 30 at 10 am ET to review capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. The spotlight presenters will be Henry Schwartz and Maggie White of Cboe, who will discuss options market data.

The CAT Transaction Reporting Working Group will have its next call on Wednesday April 30 at 2 pm ET.

FIF has scheduled the next call for the Short Sales / Reg SHO / Short Reporting Working Group for Thursday May 1 at 11 am ET. The Working Group will review a revised draft comment letter to FINRA to recommend changes to short interest reporting. The comment letter is in response to FINRA Regulatory Notice 25-04 (FINRA Launches Broad Review to Modernize Rules Regarding Member Firms and Associated Persons).

FIF has created a subgroup to discuss direct reporting of muni trades to the MSRB. FIF has scheduled a call for this subgroup for Thursday May 1 at 1 pm ET. The subgroup will review a draft letter to the MSRB recommending that firms have the option to report trades directly to the MSRB RTRS as opposed to reporting trades through the RTTM trade-matching system operated by FICC. If you are interested in participating in this discussion and have not yet registered for this subgroup, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view...

The CAT Monthly Update Working Group call for May will be on Thursday May 1 at 2 pm ET. The Working Group will review guidance and updates from the CAT Plan Participants and FINRA CAT on CAT Transaction Reporting, CAT CAIS and CAT billing during the prior month. The Working Group will also review the current areas of focus for FIF members and the current open issues for CAT Transaction Reporting, CAT CAIS reporting and CAT billing.

SLATE Working Group. FIF hosted three calls this past week for the Securities Lending Transparency (SLATE) Working Group. The Working Group continued its review and discussion of a draft letter to the SEC and FINRA relating to the implementation of SLATE. The Working Group discussed reporting for loans that involve pooled collateral, FINRA’s validation of the FINRALoanID for modifications, whether fees and rebates should be reported as positive or negative numbers, reporting modification and termination fees, reporting for loans novated to the OCC, and cross-border scenarios. Short...

Nomura is set to acquire Macquarie’s US and European public asset management business, in a push to expand the firm’s global capabilities.  The deal, valued at an all-cash purchase price of $1.8 billion, is expected to close by the end of 2025, subject to customary closing conditions and regulatory approvals, and will see Nomura acquiring Macquarie’s three “Target Companies” in a 100% stock purchase transaction. Through the move, Nomura will gain $180 billion in retail and institutional client assets across equities, fixed income and multi-asset strategies. Similarly,...