Options Clearing Corp. Streamlines Forms: No Fees, Instant Change
Published Date: 3/10/2026
Notice
Summary
The Options Clearing Corporation (OCC) is updating its membership forms by removing them from official rule text and treating them as regular forms instead. This change affects anyone applying to be or already is a clearing member, making the process smoother and more flexible. The update took effect immediately on February 23, 2026, with no new fees involved.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Forms Removed From Rule Text
On February 23, 2026, OCC withdrew 21 Clearing Membership documents (about 100 pages) from its rule text and will treat them as regular forms instead. If you apply to be, or already are, an OCC clearing member, OCC can now update those forms more quickly without filing a proposed rule change; OCC says this does not change membership requirements and involves no new fees.
New Rule 204(h) Signing Requirement
OCC added Rule 204(h) requiring, as a condition to admission, that each applicant for clearing membership and each Clearing Member sign and deliver any written instruments OCC requires from time to time. The change, effective February 23, 2026, formalizes that members must execute forms or agreements tied to services or accounts they select.
Escrow Bank Approval Standards Clarified
OCC amended Rule 610C to state that participating escrow deposit banks must meet the minimum requirements for Clearing Banks under OCC Rule 206 and any other standards OCC may set. This amendment, effective February 23, 2026, is intended to provide transparency about the standards OCC will use to approve or reject participating escrow banks.
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