Paxos Wins Temporary SEC Clearing-Agency Approval
Published Date: 5/29/2026
Notice
Summary
Paxos Securities Settlement Company just got the green light for temporary registration as a clearing agency, meaning they can now help settle and clear securities trades safely and smoothly. This affects investors and financial firms who rely on quick, secure trade settlements. The approval kicks in right away, setting the stage for Paxos to shake up how trades get finalized, with no immediate cost changes announced.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 1 costs, 2 mixed.
Regulatory Exemptions for 18 Months
The Commission granted PSSC temporary registration with an exemption from Sections 17A(b)(3)(A) and 17A(b)(3)(F) of the Exchange Act for a period not to exceed 18 months. That exemption was part of the temporary registration approval.
No Central Counterparty or Credit
PSSC will not act as a central counterparty and will not extend intraday or overnight credit to participants. Participants will have credit exposure only to those counterparties they approve in advance and will have no counterparty credit exposure to PSSC.
Faster Settlement and Immediate Access
PSSC offers settlement on the trade date (T+0), the next business day (T+1), or another agreed business day, and once settlement is final participants have immediate access to settlement proceeds. The Daily Settlement Cut-Off Time is defined as 3:10 p.m. Eastern Time.
Paxos Temporarily Registered Now
Paxos Securities Settlement Company (PSSC) was granted temporary registration as a clearing agency effective May 27, 2026. The registration is effective immediately and may last for up to 18 months from the effective date.
Must Pre-Approve Settlement Counterparties
Only pre-approved counterparty pairs ("CP Pairs") are eligible to settle in PSSC. Trades submitted to PSSC that are not between established CP Pairs will be rejected, and participants must give written notice to form or terminate CP Pairs.
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!
2026-14200 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule for Trading on the BOX Options Market LLC Facility To Establish the ORF Rate Under the New Methodology for Assessment and Collection of the ORF
Starting July 2, 2026, BOX Exchange is changing how it charges the Options Regulatory Fee (ORF) for trades on its platform. Traders using BOX will see the ORF calculated with a new method, which could affect how much they pay. This update aims to keep fees fair and clear for everyone involved.
2026-14201 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend its Rules To Permit the Listing of Binary Options Overlying Key Performance Indicators (“KPIs”) Reported by Certain Issuers of Stock (“Binary KPI Options”)
Cboe Exchange wants to let people trade new binary options based on key performance indicators (KPIs) reported by some companies. This change affects investors who like quick, yes-or-no bets on company performance and could open fresh ways to invest starting soon after approval. It’s a cool new twist that might shake up how folks bet on business success!
Previous / Next Documents
Previous: 2026-10805 — Submission of Information Collection for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans
The Pension Benefit Guaranty Corporation (PBGC) wants to keep collecting info about who’s responsible when single-employer pension plans end. This affects companies and workers involved in these plans and helps make sure everyone knows their duties. You’ve got until June 29, 2026, to share your thoughts, and this process keeps things running smoothly without extra costs right now.
Next: 2026-10810 — Sunshine Act Meetings
The National Council on Disability is holding a virtual meeting on June 11, 2026, to talk about creating a 'disability middle class' as a new focus for their work. This meeting affects council members and anyone interested in disability policy, with no costs involved for the public. They’ll discuss how this theme shapes future projects and outreach efforts.