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🧱 Market Reform

Notice of Filing of Proposed Rule Change to Amend and Restate the Cross-Margining Agreement between FICC and CME. Exhibit 3 (Updated Agreement) [REDACTED].

https://www.sec.gov/rules/sro/ficc/2023/34-97969.pdf * On July 17, 2023, the Fixed Income Clearing Corporation (FICC) proposed a rule change (SR-FICC2023-010) to the Securities and Exchange Commission (SEC). * This proposal involves an Amended and Restated Cross-Margining Agreement between FICC and the Chicago Mercantile Exchange Inc. (CME)

OPEN meeting Wednesday July 26, 2023 at 10 a.m. SEC to consider whether to propose new and amended rules relating to conflicts of interest associated with broker-dealers’ use of predictive data analytics in connection with certain investor interactions.

Source: https://public-inspection.federalregister.gov/2023-15664.pdf MATTERS TO BE CONSIDERED: 1. The Commission will consider whether to adopt rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incidents by public companies that are subject to the reporting requirements of the Securities Exchange Act of 1934.

Gary Gensler's Testimony to the Appropriations Committee About the 2024 Budget Request of $2.436B (Congress Funded at $2.364 billion). Staffing Surpassing 7-Year Levels, 35K+ Tips in 2022 (Double from 2016).

Gary Gensler's Testimony to the Appropriations Committee About the 2024 Budget Request of $2.436B (Congress Funded at $2.364 billion). Staffing Surpassing 7-Year Levels, 35K+ Tips in 2022 (Double from 2016).

Source: https://www.sec.gov/news/testimony/gensler-testimony-fsgg-subcommittee-senate-appropriations-committee-071923 Full-time equivalents (FTEs) at the SEC and in individual Divisions. Overall SEC FTEs include all Offices and Divisions. Budget Request * FY 2024 request of $2.436 billion for SEC operations. * The bulk of the increase would be to support currently authorized staffing

CFTC Open Meeting on July 26 to consider rules on: Reporting and Information Requirements for Derivatives Clearing Organizations (final)

CFTC Open Meeting on July 26 to consider rules on: Reporting and Information Requirements for Derivatives Clearing Organizations (final)

Source: https://www.cftc.gov/media/8981/federalregister071923/download https://www.cftc.gov/PressRoom/PressReleases/8756-23 Open meeting on Wednesday, July 26 at 9:30 a.m. (EDT) at the CFTC’s Washington, D.C. headquarters. Members of the public are free to attend the meeting in person, listen by

Proposed Rule Change to Provide Relief Specified Option Transactions under Rule 4210 (Margin Requirements). Introduces a new exception for CME's "protected option" strategy, which applies to short option positions based on the same index option

Proposed Rule Change to Provide Relief Specified Option Transactions under Rule 4210 (Margin Requirements). Introduces a new exception for CME's "protected option" strategy, which applies to short option positions based on the same index option

https://public-inspection.federalregister.gov/2023-15266.pdf * FINRA is proposing to amend FINRA Rule 4210 (Margin Requirements) to provide margin relief for specified index option transactions, known as “protected options,” and to make other minor conforming revisions with regard to the margin relief. Wut mean?: * The SEC has approved a proposed

FICC Alert! SR-FICC-2023-010: FICC & CME amend Cross-Margining Agreement. The current agreement lacks a clear requirement for joint liquidation at each Clearing Organization. The amendment identifies joint liquidation as the preferred method for default.

* On July 17, 2023, the Fixed Income Clearing Corporation (FICC) proposed a rule change (SR-FICC2023-010) to the Securities and Exchange Commission (SEC). * This proposal involves an Amended and Restated Cross-Margining Agreement between FICC and the Chicago Mercantile Exchange Inc. (CME). * If approved, this Restated Agreement would replace the current Cross-Margining

SEC Alert! Proposed Rule OPEN for Comment to Require Daily Computation of Customer and Broker-Dealer Reserve Requirements under the Broker-Dealer Customer Protection Rule.

SEC Alert! Proposed Rule OPEN for Comment to Require Daily Computation of Customer and Broker-Dealer Reserve Requirements under the Broker-Dealer Customer Protection Rule. SEC also seeking feedback on whether similar requirements should be applied to broker-dealers & security-based swap dealers. Wut mean? * The SEC is proposing changes to the broker-dealer