Type:Notice
Citation:90 FR 13223
Reading Time:about 19 minutes
ICE Clear Credit LLC (ICC) proposed a rule change to improve their risk management practices. The updates, which require approval from the Securities and Exchange Commission, focus on automating daily parameter updates for credit default swap risk factors and enhancing documentation. ICC believes these changes will enhance risk management by ensuring more accurate margin calculations and improving clarity in their risk assessment methods. Public comments on the proposal are being solicited until April 10, 2025.
Simple Explanation
ICE Clear Credit wants to change some rules to make sure they keep track of money and risk better, like using computers to check numbers every day; they think these changes will help make their work safer and clearer for everyone.