Options Corp Gets Nod to Shuffle Guaranty Payments Around
Published Date: 12/12/2025
Notice
Summary
The Options Clearing Corporation (OCC) got the green light to change how it handles a special cash payment called the Guaranty Substitution Payment during tough financial times. This update helps OCC better manage its money risks if a big participant defaults, keeping the system safer for everyone involved. These changes kick in soon and won’t cost extra but will make OCC’s risk checks smarter and stronger.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Clearing Members May Pay Less Collateral
If you are a Clearing Member, OCC will now account only for the portion of a member's unpaid NSCC Required Fund Deposit and Supplemental Liquidity Deposit tied to exercise-and-assignment stock settlement activity (the "Final GSP") when sizing liquidity needs. OCC observed NSCC data where SLD obligations suggested a potential need to hold $7 billion while E&A activity related to only $60 million, and switching to the Final GSP could reduce the collateral OCC collects from Clearing Members.
Investors May See Lower Trading Costs
If you trade securities, OCC's change to count only the Final GSP when stress-testing liquidity could lower the amount OCC collects from Clearing Members and thereby reduce clearing-related costs that can flow through to investors. The Commission approved the change on December 9, 2025, and the filing includes an example where NSCC data implied holding $7 billion when related exposure was $60 million.
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!
2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.
2026-11809 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.
Previous / Next Documents
Previous: 2025-22613 — Agency Information Collection Activities; Revision of a Currently Approved Collection: Application for Travel Document
USCIS is updating the Application for Travel Document form and wants your feedback before finalizing it. If you apply for travel documents, these changes might affect you, but there’s no new fee or big time changes. You’ve got until January 12, 2026, to share your thoughts and help make the process smoother!
Next: 2025-22615 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Units of the Sprott Physical Copper Trust
The SEC is taking extra time to decide if NYSE Arca can list and trade units of the Sprott Physical Copper Trust, a new way to invest in copper. This affects investors and traders interested in commodity-based shares and could impact when these units become available to buy or sell. The decision deadline has been extended to make sure everything is carefully reviewed before any money changes hands.