Clearing Houses Tweak Backup Deals – Business as Usual
Published Date: 1/23/2025
Notice
Summary
The Depository Trust Company (DTC) and the National Securities Clearing Corporation (NSCC) are updating their agreement to make how they back each other up clearer and simpler. These changes reflect how they actually work today, help manage money and securities better, and let them settle some obligations more efficiently. This update is effective immediately and affects both clearing agencies, helping keep the financial system smooth and secure.
No Economic Impacts Identified for this Document
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-10951 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Allow for Extended Trading of Multi-Listed Equity Options
Cboe Exchange got the green light to let traders buy and sell certain popular stock options for longer hours. This change affects investors who trade multi-listed equity options, giving them more time to make moves outside regular market hours. The new extended trading sessions could mean more chances to react to news and potentially more trading activity starting soon.
2026-11004 — Deregistration Under Section 8(f) of the Investment Company Act of 1940
The SEC is letting certain investment companies officially stop being registered if they’ve already closed down and paid out their investors. If you’re involved with these companies, you can ask for a hearing by June 23, 2026. This process helps clean up paperwork and saves money by ending unnecessary rules for companies that are no longer active.
2026-10957 — Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 15c1-7
The SEC is asking for comments on keeping a rule that makes broker-dealers record every trade they make on customer accounts they control. About 325 broker-dealers handle around 400,000 trades a year, spending about 5 minutes each to log details like customer name, security info, and time. This helps stop fraud and keeps trading fair, with an estimated total yearly time cost of 33,333 hours across the industry.
Previous / Next Documents
Previous: 2025-01546 — Self-Regulatory Organizations; LCH SA; Order Granting Approval of Proposed Rule Change by LCH SA Relating to Dealer Status
LCH SA just got the green light from the SEC to update its rules so that affiliates of Clearing Members can have their transactions registered under the main Clearing Member’s name. This change makes things smoother for dealers involved in credit default swaps and related trades, with no extra costs or delays announced. It’s a win for banks and traders who want clearer, simpler dealer status rules starting now.
Next: 2025-01548 — Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend and Restate the Second Amended and Restated Netting Contract and Limited Cross-Guaranty Between NSCC and DTC
The National Securities Clearing Corporation (NSCC) and the Depository Trust Company (DTC) are updating their agreement to make how they back each other up clearer and simpler. These changes reflect how they actually work today, improve how they handle money and securities, and help keep things running smoothly without delays. This update took effect right away on January 2, 2025, with no immediate cost impact for the public.