Search Results for keywords:"Fixed Income Clearing Corporation"

The Fixed Income Clearing Corporation (FICC) has submitted a proposed rule change to the Securities and Exchange Commission (SEC) concerning the GSD Rulebook. This proposal aims to revise how Funds-Only Settlement Amount (FOS) payments are handled, clarifying their designation as a settlement, not a collateral payment, and detailing when payments are final. Additionally, FICC plans to remove its right to offset a FOS payment against any additional funds required from a Netting Member. The SEC invites public comments on whether this rule change aligns with the Securities Exchange Act of 1934.

The Securities and Exchange Commission is considering a proposed rule change by the Fixed Income Clearing Corporation (FICC) to introduce an Intraday Mark-to-Market Charge for its Government Securities Division. This change aims to manage risks that occur when the value of a member's portfolio changes significantly during the day. If these changes reach a certain threshold, FICC will charge members to cover the potential risks, helping to safeguard the financial system. Public comments on this proposal are being solicited before any decision is made.

In a recent decision, the Securities and Exchange Commission (SEC) approved a rule change for the Fixed Income Clearing Corporation (FICC). This amendment allows FICC to manage same-day settling repurchase agreements (repos), improving the efficiency of securities transactions by centralizing settlement processes. The change includes two new services: the Same-Day Settling Service, which allows for both legs of repos to settle under FICC's watch, reducing the risk of settlement failures, and the Pair-Off Service, which helps settle failed trades on the same day they occur, decreasing overnight risk for members. This update aims to streamline the settlement of securities transactions and minimize risks associated with settlements.

In the Federal Register, the Securities and Exchange Commission (SEC) announced it has no objections to the Fixed Income Clearing Corporation's (FICC) proposal to enhance its system for settling trades in U.S. Treasury securities. The proposal includes expanding FICC's central counterparty services to cover both the start and end of same-day repurchase agreements known as "repos," which aims to reduce settlement fails and improve efficiency. Additionally, FICC introduced a Pair-Off Service to help members settle their failed obligations more efficiently, minimizing market risks by allowing them to resolve these by the end of each day. The changes are expected to support financial stability by reducing systemic risks and promoting effective risk management.

The Securities and Exchange Commission (SEC) is considering a proposed rule change by the Fixed Income Clearing Corporation (FICC) to introduce a "Volatility Event Charge." This charge is designed to help FICC manage and reduce its risk during periods of significant market upheaval, like major elections or economic announcements, that could cause large market movements. The proposed change is aimed at ensuring FICC has enough financial resources to protect against potential losses if a clearing member defaults during such volatile times. The SEC invites public comments on this proposal, which would add more stability to financial markets by proactively managing associated risks.