The Securities and Exchange Commission received a proposed rule change from the Fixed Income Clearing Corporation (FICC). The rule update aims to amend the Clearing Agency Securities Valuation Framework by ensuring reliable data inputs for risk-based margin systems, in line with recent amendments to the Commission's Standards for Covered Clearing Agencies. These changes encompass adding new sections to address various data inputs, a glossary for key terms, and enhancements to policies for handling data that may be unavailable or unreliable. The goal is to improve FICC's processes for managing margins and collateral to continue safeguarding securities and ensuring accurate transaction settlements.
Simple Explanation
The SEC got a new plan from a group that helps with managing money things like trades. They want to make sure they use the best and most correct information to keep everything safe and right when people buy and sell.