ICE launches broker-dealer citation transparency service

The brand new service is geared toward serving to members meet new necessities ensuing from current amendments to the Securities and Change Fee (SEC) guidelines.

Intercontinental Change has launched a brand new citation transparency service for dealer sellers working within the mounted revenue markets.

The service helps members to acquire and assessment issuer details about mounted revenue securities earlier than publishing or submitting a citation, in a citation medium in accordance with amendments to the US securities regulator’s Rule 15C2-11 which governs the publication or submission of quotations for securities in a citation medium aside from on a nationwide change.

The SEC introduced adjustments to the rule in September 2020 however members subsequently requested extra time to change their operations and techniques to conform, resulting in the regulator later publishing a no motion letter in December final 12 months, confirming a interval of no enforcement and a three-stage set of aid measures spanning till 2024.

ICE confirmed its new service can be utilized by members to find out the eligibility of securities for the SEC’s aid and that it might proceed to work with its clients to assist them navigate the altering regulation.

The service contains greater than 15 information fields required to satisfy assessment necessities beneath the regulation and permits customers to simply seek for any extra related and relevant information. It will also be leveraged by front- and middle-office clients, aligning merchants and threat groups, stated ICE.

“We proceed to have interaction with our clients to assist them navigate the brand new regulatory necessities beneath SEC Rule 15c2-11,” stated Amanda Hindlian, president of mounted revenue and information companies at ICE.

“We’re happy to have been a first-mover on this area and can proceed to evolve our answer to assist our clients implement cost-effective methods to satisfy their buying and selling and compliance wants.”

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