📈OCC Rule Change Promises Enhanced Clearing Services for MIAX
Self-Regulatory Organizations; the Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by the Options Clearing Corporation Concerning the Adoption of a New Clearing Agreement That Would Permit OCC To Provide Clearing and Settlement Services to MIAX Subject to All Requisite Regulatory Approvals Being Received
Summary
The SEC is notifying about the immediate effectiveness of a proposed rule change by the Options Clearing Corporation (OCC) to adopt a new Clearing Agreement allowing OCC to offer clearing and settlement services to MIAX Futures Exchange, LLC. This change includes enhanced provisions for risk management, cybersecurity, data agreements, and reporting obligations, aligning with best industry practices.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change allows the Options Clearing Corporation (OCC) to provide clearing and settlement services to MIAX, affecting compliance and operational requirements for businesses engaged in trading commodities and futures. Specific provisions concerning cybersecurity, risk management, and reporting obligations indicate new compliance measures for firms.