☁️SEC Approves Clearing Agencies' Cloud Infrastructure Transition
Self-Regulatory Organizations; The Depository Trust Company; Fixed Income Clearing Corporation; National Securities Clearing Corporation; Notice of No Objection to Advance Notices To Host Certain Core Clearance and Settlement Systems in a Public Cloud
Summary
The SEC has issued a notice of no objection for the Depository Trust Company, Fixed Income Clearing Corporation, and National Securities Clearing Corporation to host core clearance and settlement systems on a public cloud. This transition aims to enhance operational resilience and modernize technology, aligning with risk management principles while ensuring compliance with regulatory standards.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The notice outlines significant regulatory approvals for the Clearing Agencies' transition of core clearance and settlement systems to a public cloud infrastructure, impacting operational resilience, cybersecurity, and scalability. This shift aligns with modern operational frameworks, influencing compliance and operational strategies for financial institutions relying on these agencies.