Trading and Markets (Domestic)
Trading and Markets (Domestic)
ICI Comment Letter on FINRA’s and MSRB’s Filings with the SEC to Shorten Reporting Timeframes
On February 15, 2024, ICI filed a comment letter in response to notices published by the Securities...
ICI Comment Letter on Regulatory Capital Rule: Large Banking Organizations and Banking Organizations with Significant Trading Activity
ICI has filed two letters in response to the joint notice of proposed rulemaking issued by the Board...
ICI Supplemental Comment Letter on Regulatory Capital Rule: Large Banking Organizations and Banking Organizations with Significant Trading Activity
ICI has filed two letters in response to the joint notice of proposed rulemaking issued by the Board...
The SEC’s Liquidity Proposal Is Arbitrary and Harmful to Investors
January 12, 2024—Open-end long-term mutual funds (“funds”) have a long history of successfully...
ICI: SEC’s Safeguarding Proposal Would Upend Decades of Established Practice
ICI President and CEO Eric Pan released the following statement regarding the Securities and...
ICI Comment Letter to SEC on Re-Proposal Regarding ABS Conflicts of Interest
The Investment Company Institute appreciates the opportunity to comment on the Securities and...
December 28, 2022
Memo #34737
FINRA Adopts and Proposes Amendments to TRACE Reporting
Over the last month, FINRA has proposed or adopted three separate reporting requirement changes to the Trade Reporting and Compliance Engine (TRACE). On December 13, 2022, FINRA adopted amendments to require the reporting of transactions in US dollar...
ICI Comment Letter on SEC Treasury Clearing Proposal
On December 23, ICI filed a comment letter with the Securities and Exchange Commission on its...
ICI Follow-Up Letter to SEC on Rule 15c2-11 and Rule 144A Debt Securities
On October 25, ICI submitted the attached follow-up letter to SEC Chair Gary Gensler on the...
ICI Comment Letter to CFTC and SEC on CCP Governance and Conflicts of Interest Proposals
ICI filed this comment letter with the CFTC on its DCO governance rule proposal and the SEC on its...
ICI Comment Letter to FINRA and MSRB Regarding Shortening Trade Reporting Timeframes
On October 3, 2022, ICI filed a comment letter on behalf of members discussing certain concerns with...
ICI Comment Letter to Treasury Department on Additional Post-Trade Transparency
On August 19, ICI filed a comment letter discussing member views regarding the issues raised in the...
T+1 Securities Settlement Industry Implementation Playbook (pdf)
T+1 Securities Settlement Industry Implementation Workbook (pdf)
T+1 Securities Settlement Industry Implementation Workbook (xls)
ICI Comment Letter on CFTC Request for Comment on Swap Clearing Requirements and LIBOR Transition (pdf)
Accelerating the US Securities Settlement Cycle to T+1
ICI, SIFMA, and DTCC Lay Out Path to Shorten US Securities Settlement Cycle to T+1 by First Half of 2024
The Investment Company Institute (ICI), the Securities Industry and Financial Markets Association...
ICI Joint Letter to SEC on Application of Rule 15c2-11 to Fixed Income (pdf)
Rule 17a-7 at the Crossroads: Supplemental Information on Equity Cross Trading (pdf)
Joint Letter to SEC on Accelerating the Securities Settlement Cycle to T+1 (pdf)
ICI Submits Response to SEC Staff's Statement on Cross Trading (pdf)
ICI Statement for Joint House Subcommittee Hearing on Impact of the Volcker Rule (pdf)
Testimony for House Hearing: Market Structure: Ensuring Orderly, Efficient, Innovative and Competitive Markets for Issuers and Investors (pdf)
ICI Amicus Brief Supporting the SEC's Order to Reform NMS Equity Data Plan Governance (pdf)
Indexes and How Funds and Advisers Use Them: A Primer (pdf)
ICI Submits Comment Letter Responding to SEC Staff Questions on Control Share Acquisition Statutes and Enhancing Public Access to Private Markets (pdf)
ICI Comment Letter on SEC Proposed Exemptive Order on Portfolio Margining (pdf)
ICI Comment Letter to CFTC and SEC on Portfolio Margining (pdf)
Focus on Funds: New Report Makes Sense of March Market Turmoil
October 30, 2020—ICI research analyzes how funds fared during the extreme market stress of March...
Focus on Funds: How 401(k) Investors React to Market Ups and Downs
Focus on Funds How 401(k) Investors React to Market Ups and Downs The long-term saving horizon of...
ICI: “Vitally Important" That Financial Markets Remain Open
Paul Schott Stevens, president and CEO of the Investment Company Institute, issued the following...
ETFs Are Passing the COVID-19 Crisis Test
How have exchange-traded funds (ETFs) weathered the intensifying financial market fallout from the...
Focus on Funds: Amid Volatile Markets, Fund Investors Stay the Course
Focus on Funds Amid Volatile Markets, Fund Investors Stay the Course Despite ups and downs in the...
Focus on Funds: 2019 Fund Investment Trends
Focus on Funds 2019 Fund Investment Trends The latest data show money market funds and bond funds...
Comment Letter to SEC on EDGA's Proposed Liquidity Provider Protection Access Delay (pdf)
ICI CII Amicus Brief
ICI Submits Comment Letter on Limit Up-Limit Down Plan Amendment (pdf)
All Fund Management Is Active
ICI Explains All Fund Management Is Active Increasingly, investors have been directing assets toward...
ICI Submits Comment Letter on SEC's Proposed Transaction Fee Pilot for NMS Stocks (pdf)
Joint Trades Submit Comment Letter to the Legal Entity Identifier ("LEI") Regulatory Oversight Committee ("ROC") (pdf)
Focus on Funds: ICI Outlines Measures to Enhance Economic Growth
Focus on Funds ICI Outlines Measures to Enhance Economic Growth The US Securities and Exchange...
For T+2, It’s All Systems Go
For T+2, It’s All Systems Go By Michael Bodson, Kenneth E. Bentsen Jr., and Paul Schott Stevens (As...
ICI Submits Comment Letters Regarding Continued Listing Standards for Exchange-Traded Products (pdf)
ICI Submits Comment Letter on SEC's Amendment to Securities Transaction Settlement Cycle Proposal (pdf)
IDC Files Comment Letter Supporting Move to T+2 Settlement Cycle (pdf)
ICI Submits Comment Letter to SEC on Improving NMS Plan Governance and Transparency (pdf)
ICI Letter to SEC on Disclosure of Order Handling Information (pdf)
SEC Order Handling Information Proposal Will Benefit Funds and Shareholders
SEC Order Handling Information Proposal Will Benefit Funds and Shareholders ICI Urges Quick Adoption...
ICI Comment Letter to SEC on Proposed National Market System Plan to Implement the Consolidated Audit Trail (pdf)
ICI Submits Comment Letter to Treasury on its Request for Information on the Evolution of Treasury Market Structure (pdf)
ICI Submits Comment Letters Supporting Efforts by MSRB and FINRA to Shorten the U.S. Securities Settlement Cycle (pdf)
Focus on Funds: Market Structure Rules May Need Refinement
Focus on Funds Market Structure Rules May Need Refinement Traders in the capital markets are talking...
Focus on Funds: Order Routing Transparency Is an Industry Trend
Focus on Funds Order Routing Transparency Is an Industry Trend Technological advances are making it...
ICI Comment Letter to SEC on Proposed Rules for the Regulation of NMS Stock Alternative Trading Systems (pdf)
Focus on Funds: ICI Seeks Market Improvements for ETFs and Their Investors
Focus on Funds ICI Seeks Market Improvements for ETFs and Their Investors On August 24, 2015...
Focus on Funds: ICI Insights on the SEC’s Market Structure Agenda
Focus on Funds ICI Insights on the SEC’s Market Structure Agenda Stephen Luparello, director of the...
Promoting the Buyside Voice on Market Structure
Promoting the Buyside Voice on Market Structure 2016 ICI Capital Markets Conference David W. Blass...
ICI Submits Comment Letter to SEC Equity Market Structure Advisory Committee on Access Fees and Liquidity Rebates (pdf)
ICI Submits Letter to SEC Chair White in Response to August 24th Market Volatility (pdf)
ICI, MFA, and SIFMA Submit Order Routing and Execution Quality Disclosure Template to SEC (pdf)
ICI Files Comment Letter on Application of Risk Retention Proposal to Third-Party Tender Options Bond Structure (pdf)
ICI Comment Letter on Protection of Collateral for Cleared Security-Based Swaps under SEC's Proposed Standards for "Covered Clearing Agencies" (pdf)
ICI Comment Letter on FINRA's Proposed Margin Requirements for TBA Transactions (pdf)
ICI Letter on FINRA Proposal to Increase ATS Transparency (pdf)
ICI Submits Comment Letter on Credit Risk Retention Re-Proposal for Asset-Backed Securities (pdf)
ICI Comment Letter on TRACE Reporting Proposal (pdf)
ICI Comment Letter on SEC's Proposed Regulation Systems Compliance and Integrity
ICI Comments on Petition for Rulemaking to Shorten Reporting Deadline Under Section 13(f) of the Exchange Act (pdf)
ICI Comment Letter on NASDAQ Proposal for New ETF Order Type Pegged to INAV (pdf)
ICI and ICI Global Submit Comments to IOSCO on Financial Benchmarks (pdf)
ICI and ICI Global Comment Letter on CFTC's Further Proposed Interpretive Guidance on the Cross-Border Application of Certain Swaps Provisions (pdf)
ICI Letter on SEC's Proposal on Capital, Margin, and Segregation Requirements for Security-Based Swap Dealers and Major Security-Based Swap Participants (pdf)
ICI Comment Letter on FINRA Notice Regarding TRACE Reporting (pdf)
ICI Comment Letters in Response to Proposed Rule Changes by the NYSE and Nasdaq to Modify Listing Rules for Compensation Committees (pdf)
IDC Comment Letter on SEC's Proposal To Permit General Solicitation and General Advertising By Privately Offered Funds (pdf)
ICI Participates in Joint Buy-Side Trade Association Letters on FX Swaps and FX Forwards (pdf)
ICI Files Letter Regarding MSRB's Proposal to Enhance Transaction Data on the Real-Time Transaction Reporting System (pdf)
ICI and Banks File Joint Supplemental Comment Letter on Credit Risk Retention Proposal's Application to Tender Option Bond Programs (pdf)
ICI Comment Letter on SEC's Statement on Sequencing of Compliance Dates for Final Rules for Security-Based Swaps (pdf)
ICI Comment Letter on CFTC's Proposed Rules Prohibiting Aggregation of Orders to Satisfy Minimum Block Sizes or Cap Size Requirements (pdf)
ICI Comment Letter on MSRB's Proposal to Eliminate Large Trade Size Masking on Price Transparency Reports
ICI Letter on NYSE Arca Proposal to Establish a Market Maker Incentive Program (pdf)
ICI Letter on CFTC's Minimum Block Trade Reproposal (pdf)
ICI Letter on NASDAQ Proposal to Establish the Market Quality Program (pdf)
Trends in the Expenses and Fees of Mutual Funds, 2011 (pdf)
ICI Files Comment Letter with MSRB Regarding Retail Order Periods (pdf)
Do Money Markets Pose Systemic Risk?
Do Money Markets Pose a Systemic Risk? Bloomberg Portfolio Manager Mash-Up Paul Schott Stevens...
ICI Opposes MFA Rulemaking Petition on Hedge Fund Advertising (pdf)
ICI Global Statement for Joint House Subcommittee Hearing on Impact of the Volcker Rule (pdf)
Our Shared Mission: Ensuring That Global Markets Work for Investors
“Our Shared Mission: Ensuring That Global Markets Work for Investors” Opening Remarks 2011 Equity...
ICI Comment Letter on SEC's Concept Release on Funds' Use of Derivatives (pdf)
ICI Files Comment Letter on CFTC Swap Implementation Schedules (pdf)
ICI Responds to Senate Banking Committee Hearing on Exchange-Traded Funds
ICI Responds to Senate Banking Committee Hearing on Exchange-Traded Funds Institute Welcomes Open...