The Options Clearing Corporation proposed amendments to formalize the procedures under which it would adjust the parameters for calculating margin requirements during periods of high market volatility.
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The Futures Industry Association published an analysis on the evolution of the methodology used by central clearinghouses for the purpose of calculating margin for exchange-traded derivatives.
In a joint submission to the CFTC and the SEC, the Chicago Mercantile Exchange Inc. and the Fixed Income Clearing Corporation proposed an amended and restated Cross-Margining Agreement between the clearing agencies.
The comment deadline was officially set for the SEC's proposed (i) amendments to current requirements on clearing agencies' risk-based margin systems and (ii) new rule on the content of clearing agencies' recovery and wind-down plans. The July 17, 2023 comment deadline was published in the Federal Register.
The Options Clearing Corporation settled parallel SEC and CFTC charges for failing to fully implement its own rule change relating to the calculation of costs in the event of a need to close out the positions of a defaulting clearing member.