📈Proposed Rule Change for Money Market Instruments by DTC
Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Money Market Instruments Modernization
Summary
The SEC has published a notice regarding a proposed rule change by The Depository Trust Company to modernize the eligibility processing for money market instruments. This change aims to migrate processes from a legacy system to a more efficient platform, simplifying documentation and enhancing overall operational efficiency, while consolidating compliance requirements for Participants and issuers.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change enhances the securities eligibility process, reducing administrative burdens and simplifying documentation, which can streamline operations for Participants and issuers. This can lead to increased efficiency in processing money market instruments, potentially improving profitability and compliance strategies for businesses involved.