Sec cftc portfolio margining

In other words, while the statement is a good message to the markets that the CFTC and SEC would like to accomplish goals of permitting broad portfolio margining, it is not clear how the agencies intend to address issues under custody and insolvency rules applicable to CFTC- and SEC-regulated products and market intermediaries.

The SIPC protection also is available with respect to certain security futures contracts, and options on such contracts, where those instruments are held in a portfolio margining account carried by a SIPC-member brokerage firm as a securities account pursuant to a portfolio margining program approved by the SEC. The SEC proposed replacing an exemption for certain clearing agencies and dual registrant broker-dealers concerning the portfolio margining of swaps and security-based swaps ("SBS") that are cleared credit default swaps. Jul 04, 2019 · Under this proposal, the SEC is using a stress level percentage set out for unhedged exchange-traded options based on an equity security or narrow-based index in a portfolio margin account (e.g., +/-15%) to establish a consistent margin level for security futures held outside of a securities portfolio margin account, which use a fixed-rate All positions in margin equity securities (including foreign equity securities and options on foreign equity securities provided the foreign equity is deemed to have a “ready market” under SEC Rule 15c3-1), listed options on an equity security or index of equity securities, security futures products, unlisted derivatives on an equity requirement to be computed by applying the portfolio margin methodology. • However, a cross-margin account must be carried as a securities account, and until such time as relief is granted by the Commodity Futures Trading Commission (“CFTC”), member organizations must comply with the customer protection Joint Statement on CFTC-SEC Portfolio Margining Harmonization Efforts. Chairman Jay Clayton.

24.04.2021 Sec cftc portfolio margining

FOR IMMEDIATE RELEASE. 2020-264. Washington D.C., Oct. 22, 2020 —. The Securities and Exchange Commission and the Commodity Futures Trading Commission, at their first joint open meeting to vote on rulemaking initiatives, today approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum CFTC Chair Heath P. Tarbert stressed the "central importance" of portfolio margining to dually-registered market participants that have customers holding positions in separate accounts without the In a joint request for comment, the SEC and CFTC solicited feedback on possible methods for implementing portfolio margining of SEC- and CFTC-regulated products (including swaps, security-based swaps, securities and futures).

6 days ago Better Markets Responds to SEC and CFTC Request for Comment on Portfolio Margining of Uncleared Swaps and Security-Based Swaps

Is an OTC derivative that has a non-margin equity security as its underlier eligible for portfolio margin? [2] Margin Requirements for Non-Centrally Cleared Derivatives, Basel Committee on Banking Supervision and Board of the International Organization of Securities Commissions (Sept.

SEC Chair Jay Clayton and CFTC Chair J. Christopher Giancarlo stated their intention to explore whether portfolio margining would be an area where SEC-CFTC "harmonization" would be beneficial.

The Securities and Exchange Commission and the Commodity Futures Trading Commission, at their first joint open meeting to vote on rulemaking initiatives, today approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum CFTC Chair Heath P. Tarbert stressed the "central importance" of portfolio margining to dually-registered market participants that have customers holding positions in separate accounts without the In a joint request for comment, the SEC and CFTC solicited feedback on possible methods for implementing portfolio margining of SEC- and CFTC-regulated products (including swaps, security-based swaps, securities and futures).

Portfolio Margining at a Broker-Dealer that is also Registered as a Swap SEC/CFTC Security Futures Margin Rules (CFTC Rule 41.45). 27 Oct 2020 approve the issuance of a joint request for comment on the portfolio margining of uncleared swaps and non-cleared security-based swaps. The 23 Oct 2020 CFTC and SEC Approve Final Rule on Security Futures Margin and Request for Comment on Portfolio Margining. On October 22, the 1.

We commended the agencies for responsibly seeking public comment through a request-for-comment release and not issuing a Sep 02, 2019 · Portfolio margin refers to the modern composite-margin policy that must be maintained in a derivatives account containing swaps (including credit default swaps), options and futures contracts. The SIPC protection also is available with respect to certain security futures contracts, and options on such contracts, where those instruments are held in a portfolio margining account carried by a SIPC-member brokerage firm as a securities account pursuant to a portfolio margining program approved by the SEC. The SEC proposed replacing an exemption for certain clearing agencies and dual registrant broker-dealers concerning the portfolio margining of swaps and security-based swaps ("SBS") that are cleared credit default swaps. Jul 04, 2019 · Under this proposal, the SEC is using a stress level percentage set out for unhedged exchange-traded options based on an equity security or narrow-based index in a portfolio margin account (e.g., +/-15%) to establish a consistent margin level for security futures held outside of a securities portfolio margin account, which use a fixed-rate All positions in margin equity securities (including foreign equity securities and options on foreign equity securities provided the foreign equity is deemed to have a “ready market” under SEC Rule 15c3-1), listed options on an equity security or index of equity securities, security futures products, unlisted derivatives on an equity requirement to be computed by applying the portfolio margin methodology. • However, a cross-margin account must be carried as a securities account, and until such time as relief is granted by the Commodity Futures Trading Commission (“CFTC”), member organizations must comply with the customer protection Joint Statement on CFTC-SEC Portfolio Margining Harmonization Efforts. Chairman Jay Clayton.

ICE Clear Credit formally filed separate but related petitions with the CFTC and SEC to offer portfolio. 22 Oct 2020 Joint Final Rule: Customer Margin Rules Relating to Security Futures · Request for Comment: Portfolio Margining of Uncleared Swaps and 28 Dec 2012 Order grants exemptive relief from Exchange Act requirements; parallel CFTC relief expected soon. both the CFTC and SEC to offer one account portfolio margining across both those cash and futures positions”. PORTFOLIO MARGINING, supra note 26, at 12 12 Jul 2019 In addition, the SEC and CFTC will coordinate on portfolio margining. 4. * This visual memorandum does not address the application of the 7 May 2019 Whatever the SEC does on its side to facilitate portfolio margining, the CFTC will have to mirror it, as was the case with the 2012 exemption. 23 Oct 2020 SEC, CFTC hope to revive 'dead' security futures market with new level for security futures held in a securities portfolio margin account.

Oct 22, 2020 · Federal Register: 17 CFR Part 240 Portfolio Margining of Uncleared Swaps and Non-Cleared Security-Based Swaps (Unanimously Approved by the CFTC) Oct 22, 2020 · Portfolio margining is of central importance to market participants who are dually-registered with the SEC and the CFTC and have customers who hold positions in separate accounts without the ability to cross-margin the positions. Oct 22, 2020 · The US Commodity Futures Trading Commission and the US Securities and Exchange Commission held their first-ever joint public meeting on 22 October. The meeting between two of the nation's top financial market regulators was held via teleconference, and featured a joint final rulemaking that aligned minimum margin requirements for security futures as well as a request for public comment on COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 23 RIN 3038–AF07 SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 240 [Release No. 34–90246; File No. S7–15–20] RIN 3235–AM64 Portfolio Margining of Uncleared Swaps and Non-Cleared Security- Based Swaps AGENCY: Commodity Futures Trading Commission and Securities and Exchange Commission. Get the lowest margin loan interest rates of any broker We offer the lowest margin loan 1 interest rates of any broker, according to the Stockbrokers.com 2020 online broker review.

Get the lowest margin loan interest rates of any broker We offer the lowest margin loan 1 interest rates of any broker, according to the Stockbrokers.com 2020 online broker review. Global Trading on a Universal Account Invest globally in Stocks, Options, Futures, Currencies, Bonds, and Funds from a single integrated account.

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Oct 22, 2020 · In 2019, as part of the final rulemaking adopting capital, margin, and segregation requirements for security-based swap dealers, the SEC stated it would need to coordinate further with the CFTC to implement the portfolio margining of uncleared swaps and non-cleared security-based swaps in a single account.

See full list on sec.gov Oct 23, 2020 · CFTC Chair Heath P. Tarbert stressed the "central importance" of portfolio margining to dually-registered market participants that have customers holding positions in separate accounts without the Oct 22, 2020 · Washington, D.C. — The Commodity Futures Trading Commission and the Securities and Exchange Commission, at their first joint open meeting to vote on rulemaking initiatives, today approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum margin level for security futures held in a securities portfolio margin account Oct 23, 2020 · On October 22, the Commodity Futures Trading Commission and the Securities and Exchange Commission, at their first-ever joint open meeting, approved (1) a joint final rule to lower the margin requirement for an unhedged security futures position from 20 percent to 15 percent, which was approved over the dissents of Commissioners Lee and Crenshaw of the SEC; and (2) the issuance of a joint Oct 22, 2020 · Portfolio margining generally refers to the cross margining of related positions in a single account. Portfolio margining of uncleared swaps, non-cleared security-based swaps, and related positions can offer benefits to customers and the markets, including promoting greater efficiencies in margin calculations with respect to offsetting positions. Jul 11, 2019 · SEC Chair Jay Clayton and CFTC Chair J. Christopher Giancarlo stated their intention to explore whether portfolio margining would be an area where SEC-CFTC "harmonization" would be beneficial. However, until segregation issues between the SEC and the CFTC are resolved, the ability to combine securities and futures products into a single portfolio margin account will be unavailable. Is an OTC derivative that has a non-margin equity security as its underlier eligible for portfolio margin? [2] Margin Requirements for Non-Centrally Cleared Derivatives, Basel Committee on Banking Supervision and Board of the International Organization of Securities Commissions (Sept. 2013) .