📄SEC Notice on Proposed Amendments to Clearing Member Agreement
Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by The Options Clearing Corporation Concerning the Execution of the Clearing Member Agreement and the Non-U.S. Clearing Member Agreement
Summary
The Securities and Exchange Commission announces the immediate effectiveness of a proposed rule change by The Options Clearing Corporation concerning the Clearing Member Agreement. The amendment removes the requirement for an Officer's Certificate, enhancing the application process for clearing membership by accommodating diverse corporate governance practices, ultimately streamlining administrative procedures.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed changes in the Clearing Member Agreement streamline the onboarding process for applicants by removing the Officer's Certificate requirement, thus reducing administrative burdens. This is crucial for businesses involved with The Options Clearing Corporation as it facilitates easier compliance with clearing membership requirements.