OCC Gets Approval for Smoother Shutdown and Recovery Plans
Published Date: 8/4/2025
Notice
Summary
The Options Clearing Corporation (OCC) got the green light to update its plan for handling tough times, like if it needs to shut down smoothly or recover from big problems. These changes help protect everyone who trades options and futures by making sure the OCC can manage risks better and keep things running safely. The new rules kick in soon, with no extra costs for members, making the financial playground safer and more reliable.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
SEC Approves OCC RWD Plan Update
The Securities and Exchange Commission approved OCC's changes to its Recovery and Orderly Wind-Down (RWD) Plan on July 30, 2025. The amendments are meant to help OCC more clearly identify and continue its core payment, clearing, and settlement services for listed options and certain futures in the event of severe stress, supporting more reliable market functioning for people who trade these products.
Annual RWD Plan Testing Required
OCC will require testing of its ability to implement the RWD Plan at least every 12 months. The tests must report results to OCC's Board and require participation by participants and, in some instances, stakeholders.
Clearing Fund Use and Replenishment Clarified
The RWD Plan is revised to state that OCC pays deficiencies (rather than losses) from the Clearing Fund, removes language requiring an initial determination that unsecured borrowing is unavailable before using the Clearing Fund, and clarifies that Clearing Fund replenishment would not be required until a borrowing is deemed a charge against the Clearing Fund.
Escrow Deposit Program: Cash As Collateral
The revised RWD Plan describes OCC's Escrow Deposit Program, which allows a customer of an OCC Clearing Member to use cash deposited with an Escrow Bank as supporting collateral for Escrow Deposits. Each customer must enter a Tri-Party Agreement with the Bank and OCC to use cash in this way.
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
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
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!
2026-12252 — Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Pearl Options Exchange Fee Schedule To Establish Fees for the Trade-by-Trade Report
MIAX Pearl Options Exchange is adding new fees for their Trade-by-Trade Report starting now. Traders and firms who want this detailed report will pay a monthly subscription or a fee for one-time historical data requests, with discounts if they also buy related reports. This change helps the Exchange cover costs and keeps data access clear and fair.
2026-12259 — Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Options Regulatory Fee (ORF)
Starting July 1, 2026, Nasdaq Texas is raising the fee traders pay when they trade options, called the Options Regulatory Fee (ORF). This change affects anyone trading options on Nasdaq Texas and updates how the fee is described to match other Nasdaq exchanges. The new fee kicks in right after the filing, so traders should get ready for a slightly higher cost soon!
Previous / Next Documents
Previous: 2025-14668 — Gemcorp Commodities Alternative Products Fund, et al.
Gemcorp and its related funds want permission to team up and invest together in the same companies, which usually isn’t allowed. This change affects certain investment companies and could help them work smarter and share opportunities. If no one objects by August 29, 2025, the SEC will likely approve this move, potentially opening doors for new joint investments.
Next: 2025-14670 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Permit the Generic Listing and Trading of Commodity-Based Trust Shares that Meet the Requirements Set Forth in Proposed Rule 14.11(e)(4)
Cboe BZX Exchange wants to make it easier to list and trade shares tied to commodities like gold or oil by updating their rules. This change affects investors and traders who deal with these commodity-based trust shares, allowing more options on the exchange. The proposal was filed on July 30, 2025, and could open new doors for trading without extra delays or costs.