Thank you very much—it's great to be here. I'd also like to thank President Rebecca Laird, and also Leslie Woolley, Chair of the Luncheon Committee, for the gracious invitation to meet with you. There is so much going on in our markets that it's hard to know what to talk about.
Thank you for that kind introduction. It's a pleasure to be here with you this morning. Two weeks ago, I had the opportunity to speak at the Museum of Financial History.
Thank you so much Lori for that kind introduction, and thank you, Mr. Chairman, for hosting this important program. I am thrilled to be here. And I want to add my welcome to Lori's and Chairman Cox's.
Unintended Consequences I have been a long time critic of the net capital rule. The vast majority of FINRA Members (Not Subjects) are Introducing Broker Dealers. We spend thousands of dollars each year to maintain net capital and the audited financials that are required. If a introducing Broker Dealer goes under who is harmed? The client has their funds held in separate accounts and they get
As previously announced FINRA delayed the implementation of the bandwidth increase rate for the Trade Data Dissemination Service 2.1 (TDDS 2.1) vendor feed. The bandwidth is scheduled to increase from 2,500 kilobits per second (Kbps) to 3,000 kilobits per second (Kbps).
The new date for this implementation is now Monday, August 14, 2023.
Testing
FINRA will test the new bandwidth rate on
FINRA applications and support services appear to be operating normally. This includes the TRACE New Issue form and Market Operations phones lines. FINRA will continue to monitor its systems and support services and will send additional updates as necessary.
Due to the AWS US east 1 outage some FINRA applications and support services may be impacted, including the TRACE New Issue form and Market Operations phones lines. In the meantime, please e-mail FINRA Market Operations. FINRA will send an update when more details are known.
In observance of Juneteenth, FINRA’s Market Transparency Reporting Systems will be closed on Monday, June 19, 2023. Affected applications include:
Alternative Display Facility (ADF)
Over-the-Counter Reporting Facility (ORF)
Trade Reporting and Compliance Engine (TRACE)
FINRA/Exchange Trade Reporting Facilities (TRFs)
As stated in the data feed interface specifications, FINRA may send out
FINRA’s cloud journey started more than a decade ago. During this journey we learned a lot and have provided significant contributions to the cloud service.
FINRA previously announced plans to update the TRACE for Treasuries FIX acknowledgement messages on Monday, July 10, 2023. In order to align this change with FINRA Regulatory Notice 22-27, which specifies timestamp granularity, the change for TRACE for Treasuries FIX receipt messages, including acknowledgments, will now go into effect on Monday, November 6, 2023.
Currently, the TRACE for
