The Options Clearing Corporation (OCC) submitted a rule change to the Securities and Exchange Commission (SEC) on February 24, 2025, seeking to update their contracts and forms that determine the relationship between OCC and its clearing members. These updates aim to reflect recent changes to their rules and operations, ensuring consistency and modernizing their procedures. The proposal, effective immediately, covers various documents like application documents, core agreements, services agreements, appointment forms, and product-specific forms. Interested parties are encouraged to submit comments on the proposed rule change by April 1, 2025.
Simple Explanation
The Options Clearing Corporation wants to make some paperwork updates to match their new rules and be more like their updated operations. People can tell them what they think about these changes, but they won't have a long time to do so.