⚖️ICC Finalizes Changes to Clearing Procedures for Default Management
The SEC approves ICE Clear Credit LLC's proposed rule changes regarding its Clearing Participant Default Management Procedures and ICC Clearing Rules. The updates aim to enhance efficiency by eliminating Direct Liquidation mechanisms and implementing an automated Default Management System for improved default management and position porting processes.
Learn More📈ICC Approval of New Governance Playbook Enhances Risk Management
The SEC approved a proposed rule change by ICE Clear Credit LLC to revise its Governance Playbook. This includes establishing a Board Risk Committee responsible for overseeing risk management and implementing new fitness standards for board members, thus enhancing governance and compliance within the organization.
Learn More📈ICC Proposes Changes to Risk Management and Margin Policies
The SEC approved ICC's proposed rule changes to its Risk Parameter Setting and Review Policy, enhancing its risk management framework. The updates include daily adjustments to risk parameters and improved documentation methods, aiming to mitigate procyclicality and ensure timely responses to market conditions. These changes are designed to bolster the robustness of clearing operations and safeguard financial stability.
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