📈ICC Rule Change on CDS On-boarding Policies and Procedures
Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change Relating to the ICC CDS Instrument On-boarding Policies and Procedures
Summary
The Securities and Exchange Commission approved ICC's proposed rule changes to the CDS Instrument On-boarding Policies. Key amendments include revising guiding principles for instrument selection, reflecting current practices, and streamlining the voluntary quote submission period. The changes aim to enhance the efficiency and accuracy of the clearing process for market participants.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change affects clearing policies that directly impact various market participants. Its adjustments to the ICC CDS Instrument On-boarding Policies may alter compliance obligations and risk management strategies for Clearing Participants, potentially expanding the clearing of additional instruments. This highlights significant financial implications for businesses involved in derivatives trading.