National Securities Clearing Corporation

  • NSCC Proposes a New Service to Obligation Warehouse.

On November 14th, the National Securities Clearing Corporation ("NSCC") filed with the SEC the proposed rule to add a new service to the NSCC's Obligation Warehouse ("OW") which would pair off and close certain open obligations, reducing the number of open obligations in OW. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of November 25. SEC Release 34-70937.

  • NSCC Files Rule to Provide Risk Management Tool.

On November 15th, NSCC filed with the SEC a proposed rule to provide its members with a risk management tool that would enable members to monitor trading activity and receive notifications when pre-set trading limits are reached. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of November 25. SEC Release 34-70946.

Financial Industry Regulatory Authority, Inc.

  • FINRA Proposes Changes to Over the Counter Equity Trade Reporting.

On November 22nd, Financial Industry Regulatory Authority, Inc. ("FINRA") filed a proposed rule change relating to Over-the-Counter Equity Trade Reporting and Order Audit Trail System Reporting. FINRA believes that the proposed amendments will enhance FINRA's audit trail and automated surveillance program, promote more consistent trade reporting by members and detect violations of FINRA trade reporting and other rules. Publication is expected in the Federal Register during the week of November 25th. SEC Release 34-70924.

Fixed Income Clearing Corporation

  • FICC Establishes Minimum Financial Requirements.

The Fixed Income Clearing Corporation ("FICC") filed a proposed rule change (File No. SR-FICC-2013-10) under Section 19(b)(1) of the Securities Exchange Act of 1934 to establish the minimum financial requirements for the existing membership category of Registered Investment Company Netting Members in the Government Securities Division. Publication is expected in the Federal Register during the week of November 25th. SEC Release 34-70925.

NYSE Euronext

  • Changes to Midpoint Passive Liquidity Orders.

On November 18th, the New York Stock Exchange LLC and NYSE MKT LLC filed a proposed rule changes to amend NYSE Rules 13, 70.25, 107C and 1000 to adopt a new order type called a Midpoint Passive Liquidity ("MPL") Order. The proposal is designed to remove impediments to and perfect the mechanism of a free and open market and a national market system. Publication is expected in the Federal Register during the week of December 2nd. SEC Release 34-70956SEC Release 34-70955.

  • Expanded List of Complimentary Products Approved.

On December 3rd, the SEC approved the amendment to Section 907.00 of the Listed Company Manual to expand the suite of complimentary products and services that are offered to certain current and newly listed companies. Publication is expected in the Federal Register during the week of December 2nd. SEC Release 34-70971.