DTCC ITP LLC Applies to Skip Clearing Registration
Published Date: 8/31/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
6 provisions identified: 5 benefits, 1 costs, 0 mixed.
Applicant Says Full Registration Could Raise Fees
DTCC ITP states that requiring the full range of clearing-agency regulation (e.g., registration for CCP or CSD functions) would increase compliance and related costs and "could lead to increased fees to customers." This claim appears in the Application as a rationale for seeking a conditional exemption.
DTCC ITP Will Be Subject to Regulation SCI
DTCC ITP proposes that, if exempted, it will be an 'SCI entity' under Regulation Systems Compliance and Integrity (Regulation SCI), meaning its systems must have sufficient operational and processing capacity, integrity, resiliency, and security to provide allocation, matching, confirmation, and affirmation services. The Application states this requirement explicitly as a proposed condition to the exemption.
Interoperability with Fair, Non‑Discriminatory Access
The proposed exemption conditions require DTCC ITP to maintain an Interface that permits connections to any exempt clearing agency, to process interoperability requests in a timely manner, to set fair, reasonable, and non-discriminatory fees and terms for use of the Interface, and to provide access on a first-in-time priority basis and without performance bias. DTCC ITP also would provide advance notice of material Interface changes.
DTCC ITP to Continue Matching Services
DTCC ITP filed on September 18, 2025, to take over the central trade matching and electronic trade confirmation (ETC) services currently provided by its subsidiary ITPM under the ITPM exemption first granted in 2001. If the Commission grants the requested exemption, DTCC ITP would directly provide the same CTM, TradeSuite ID, and ALERT services to clients such as investment managers, broker-dealers, custodians, and agents without changing their client base or core functionality.
Quarterly Reporting of Fee and Product Changes
DTCC ITP proposes to update the Commission at least quarterly, within 45 calendar days after each quarter, on changes including: changes to its Services Catalog, any introduction, removal, increase, or decrease of Fees, and certain changes to interfaces or client-facing requirements. The Application states the updates will be confidential and will not require Commission approval before implementation.
Applicant Will Not Hold Funds or Bear Credit Risk
DTCC ITP states explicitly that, based on the Client Services it will provide, it will not: bear credit risk or liquidity risk; maintain collateral or hold funds or securities; perform final settlement; perform central securities depository services; or work with security-based swaps. The Application frames these limitations as reasons certain clearing-agency risks do not apply to DTCC ITP.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
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!
2026-05635, Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets
Starting March 23, 2026, the SEC and CFTC are making it clear that some crypto assets and transactions must follow federal securities laws. This means crypto companies and investors need to play by new rules to keep things fair and safe. Expect more transparency and possible costs for compliance as the government steps up oversight in the crypto world.
Previous / Next Documents
Previous: 2026-17673, TriOptima AB; Notice of Filing of Application for Exemption From Registration as a Clearing Agency Under Section 17A of the Securities Exchange Act of 1934
Next: 2026-17675, Agency Information Collection Activities; Proposed Collection; Comment Request; Medical Devices; Reports of Removals and Corrections
The Food and Drug Administration (FDA or Agency) is announcing an opportunity for public comment on the proposed collection of certain information by the Agency. Under the Paperwork Reduction Act of 1995 (PRA), Federal Agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment in response to the notice. This notice solicits comments on information collection associated with reports of removals and corrections for medical and radiation emitting products regulated by FDA's Center for Devices and Radiological Health (CDRH).