CME Group announced the completion of the first multilateral compression cycle. The cycle was completed in collaboration with TriOptima's triReduce compression service.Nine CME Group IRS clearing members participated in the cycle, which compressed $2.2 trillion in gross notional, resulting in a reduction cost of 44,933 line items and an additional 6,900 line items partially terminated.

The Board of Governors of the Federal Reserve System ("FRB") and the Office of the Comptroller of the Currency ("OCC") approved the use of the "advanced approaches" capital framework by Bank of America and its subsidiary national banks. The approved use of the framework will begin in the fourth quarter of 2015. "Under this framework, firms must meet specific risk-measurement and risk-management criteria when calculating their risk-based capital requirements. The framework implements standards developed by the Basel Committee on Banking Supervision and applies to large, internationally active

The Municipal Securities Rulemaking Board ("MSRB") filed a rule change to revise the effective date of MSRB Rule G-18 ("Best Execution"). Additionally, it filed related revisions to MSRB Rule G-48 ("Transactions with Sophisticated Municipal Market Professionals") and MSRB Rule D-15 ("Sophisticated Municipal Market Professional"). The revised rules will become effective no later than April 29, 2016.

The SEC approved a rule change establishing securities trader and securities trader principal registration categories pursuant to NASD Rule 1032(f). The rule change will also replace the Equity Trader registration category and qualification examination (Series 55) with a Securities Trader registration category and qualification examination (Series 57). The SEC order approving the rule change was published in the Federal Register. The exchanges must file their proposed rule changes before FINRA's effective date for the Series 57, which is expected to be January 4, 2016.

The Committee on Payments and Market Infrastructures ("CPMI") and the International Organization of Securities Commissions ("IOSCO") published a consultative report intended to help the two organizations develop guidance for authorities on definitions for a first batch of key data elements. CPMI and IOSCO also asked for public comment on the report, which was written in response to the Financial Service Board's request that CPMI and IOSCO develop global guidance on the harmonization of data elements (i) reported to trade repositories and (ii) determined to be important for the aggregation of