The FIF TRACE/Fixed Income Working Group will meet on Tuesday June 7, 2022 at 3 pm ET to continue its review of a draft FIF comment letter on the recent FINRA rule filing with the SEC (SR-FNRA-2022-011) to expand TRACE reporting to cover transactions in US dollar denominated foreign sovereign bonds. Time permitting, the Working Group also will discuss the following current TRACE regulatory changes and proposals: May 23, 2022 rule filing by FINRA with the SEC (SR-FINRA-2022-013) to require reporting of transactions in U.S. Treasuries as soon as practicable, but no later than one hour after execution, and to require that electronic executions in U.S. Treasuries be reported to TRACE using the same time increment as recorded by the execution system for the transaction; FINRA Regulatory Notice 22-12 published on May 24, 2022 relating to the new TRACE modifier for portfolio trades in corporate bonds; and the Federal Reserve Board rule to expand TRACE reporting in US Treasuries to include covered depository institutions. 

An FIF member would like to discuss Regulation S and Rule 144A issues with another FIF member that is involved in this area. Please contact FIF at fifinfo@fif.com if you are interested in participating in this discussion. 

The FIF Back Office Committee will meet on Tuesday June 21 at 11 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month.  The spotlight presenter will be Greg Lee of Paxos, who will provide an update on Paxos’ clearing agency activities.

The FIF Front Office Committee will meet on Tuesday June 28, 2022 at 11 am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. The spotlight presenter will be Chris Sparrow, who will discuss Adverse Selection in Volatile Markets.

The FIF Data and Technology Committee will meet on Wednesday June 29, 2022 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 presenter for the meeting will be Stefanos Bazinas of the NYSE, who will discuss the surge in off hours trading volume.