FINRA: Proposed Rule Change Relating to Amendments to FINRA Rules 2360 and 4210 in Connection with OCC Cleared Over-the-Counter Options
FINRA is filing with the SEC a proposed rule change to amend:
- FINRA Rule 2360 (Options) to treat over-the-counter ("OTC") options cleared by the Options Clearing Corporation ("OCC") as conventional options for purposes of the rule; and
- FINRA Rule 4210 (Margin Requirements) to treat OTC options cleared by the OCC as listed options with respect to applicable margin requirements.
As a general matter, this proposal would result in somewhat more favorable treatment of cleared OTC options for general regulatory purposes and for purposes of establishing margin requirements.
See: Text of Proposed Rule Change.