NEWS
differentials and other components, plus positions data, FICC noted. Reports are designed to be for informational purposes and comparisons, but they will be based on production positions. The reporting application will be accessible through FICC’s Customer Portal, it said. The Risk Management Customer reports will be made available starting in August and members wanting access must ensure they can access the portal prior to taking advantage of the reports. FICC noted member firms that have access to the portal should look to designated Super Access Coordinators to help support member firms that need to access the portal. FICC told members it will make the reports available to members during a parallel period to be announced.
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users will also be able access premium features, such the RDS Tax Lot Data Store that allows access to real-time data from Maxit for client reporting, statements and other processes. Certoma noted the choice of Scivantage was based on the latter’s expertise in cost basis following a regular review of Broadridge’s offering. Maxit was recently enhanced to support fixed income and options for TARP III cost basis reporting, and the platform has provided reporting capabilities for brokers, mutual funds, custodians and prime brokers for the past few years. EXCHANGES & ATSs
National Best Bid or Offer] is low priced,” it added. Changes to the ACE parameter are expected this month or in August, Phlx said, and ACE parameters per issue will be listed on the Phlx website. EXCHANGES & ATSs
CBOE markets add complex order book feeds
The Chicago Board Options Exchange and its sister exchange C2 Options Exchange will start offering a complex order book (COB) feed through their affiliate Market Data Express. Both exchanges detailed the new feed in filings at the Securities and Exchange Commission. In both cases, the COB feed will be a subset of the markets’ respective BBO data feeds, which are real-time and low latency and that includes best bid and offer data, including outstanding quotes, standing orders per side at the best price levels and aggregate size, among other things, the exchanges noted. The new COB feed will provide details particular to complex orders. Specifically, the exchanges stated data will include BBO quotes and data for complex order strategies and executed trades. For trades that have been executed, feed consumers will be able to get information about whether the trade was a customer trade, or if an order in the complex order book is a customer order, they said. Both exchanges said they will make the new feed available for free initially. But they also issued circulars noting that members will be charged for the feeds, which still need regulatory approval, starting in September. Distributors will pay $3,000 per month to distribute the COB feed from the CBOE and $500 monthly to distribute the COB feed from C2.
Phlx amends complex order execution parameters
Nasdaq OMX Phlx plans to allow for a variable parameter when considering whether complex orders can be executed at a certain price. The exchange detailed the modification in a regulatory filing at the Securities and Exchange Commission where it noted its acceptable complex execution (ACE) parameter has been set at 3%. The limit helps prevent erroneous executions by restricting trades to prices that fall within the ACE parameter. While Phlx initially believed the 3% range would capture most extreme prices, it said experience is leading the exchange to consider a lower percentage for the parameter, particularly in the cas ?????????????????????????????q]??????
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