Dismal's Smacks

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🧱 Market Reform

"The proposed Debt Issuance would provide DTC with an additional source of default liquidity, which would allow it to diversify its sources of default liquidity"

"The proposed Debt Issuance would provide DTC with an additional source of default liquidity, which would allow it to diversify its sources of default liquidity"

"The proposed Debt Issuance would provide DTC with an additional source of default liquidity, which would allow it to diversify its sources of default liquidity and mitigate risks to DTC that it is unable to secure default liquidity resources in an amount necessary to meet its liquidity needs."

DTCC Notice

NSCC/OCC propose changes to keep NSCC netting for OCC.

Without NSCC, there's no netting for OCC & in January 2022, the largest gross broker-to-broker settlement amount in the case of a larger Clearing Member default would have resulted in liquidity needs of approximately $384,635,833,942 from OCC. Wut mean?: * The Existing Accord permits NSCC to

Order Approving Proposed Rule Change Concerning Collateral Haircuts and Standards for Clearing Banks and Letters of Credit.

Options Clearing Corporation Alert! Order Approving Proposed Rule Change Concerning Collateral Haircuts and Standards for Clearing Banks and Letters of Credit.

Wut Mean?: * The OCC acts as a middleman for financial transactions, buying from sellers and selling to buyers, in the U.S. options and certain futures markets. * This role exposes the OCC to risks like credit risk, where it has to fulfill contracts even if a member doesn't

NSCC APPROVES Enhancements to the Gap Risk Measure & the VaR Charge. VaR tinkers with the mechanics that would have defaulted Robinhood & Others 1/28/21.

The NSCC, previously saved them by sacrificing retail, in allowing Robinhood and others to alter their margin charges and freezing the buy button. Reddit Post

NSCC APPROVES Enhancements to the Gap Risk Measure & the VaR Charge. "should help NSCC better protect against more idiosyncratic risk scenarios in concentrated portfolios than the current methodology"

"Idiosyncratic" used 12 times... on characteristics that indicate that such ETFs are more or less prone to the effects of gap risk events, thereby providing more accurate coverage of the potential exposure arising from such positions. Wut Mean?: * NSCC handles clearing, settlement, risk management, and guarantees completion for

Rule for Reporting & Information Requirements for Derivatives Clearing Organizations effective 9/7/2023.

Rule for Reporting & Information Requirements for Derivatives Clearing Organizations effective 9/7/2023.

Previous Superstonk posts: https://www.reddit.com/r/Superstonk/comments/12kqjbs/cftc_alert_open_for_comment_cftc_proposing_to/ https://www.reddit.com/r/Superstonk/comments/1497cmp/cftc_alert_extension_of_comment_period_through/ AMENDMENTS TO REGULATION § 39.13: 39.15(b)(2) outlines how a Derivatives Clearing Organization (DCO)

Submission of Rule Filing SR-FICC-2023-011 Portfolio Differential Charge. FICC conducted a study from 11/2021 to 10/2022, had the PD Charge been implemented during this period, it would've averaged $661 million in the morning. & $822 million at noon.

FICC-2023-011: Wut Mean?: * FICC is introducing a new component, the PD Charge, to improve the way they calculate the GSD Clearing Fund's Required Fund Deposit. * This will address the risks arising from fluctuations in a Member’s Margin Portfolio between the times of collecting their required deposits. * FICC,