Search Results for keywords:"CDS Dealers"

Found 2 results

Search Results: keywords:"CDS Dealers"

💰 Only
Oldest Newest
  • 2025-01546 — Self-Regulatory Organizations; LCH SA; Order Granting Approval of Proposed Rule Change by LCH SA Relating to Dealer Status
    Type:Notice
    Citation:90 FR 8060
    Reading Time:about 18 minutes

    The Securities and Exchange Commission (SEC) has approved a proposed rule change by LCH SA to amend its CDS Clearing Rule Book and Procedures. This change allows affiliates of Clearing Members to become CDS Dealers, enabling them to submit transactions on behalf of their affiliated Clearing Members. The rule aims to expand trading options for Clearing Members and streamline the clearing process by reducing the need for separate client onboarding for affiliate trades. It establishes clear criteria and a formal application process for affiliates seeking CDS Dealer status to ensure they meet necessary qualifications.

    Simple Explanation

    The SEC has agreed to let LCH SA allow special family members (called affiliates) of their main playing members (Clearing Members) to also play in the game of swapping something valuable (CDS). This makes it easier and faster for them to team up and play, without each new player needing a long sign-up process.

  • 2024-28547 — Self-Regulatory Organizations; LCH SA; Notice of Filing of Proposed Rule Change Relating to Dealer Status
    Type:Notice
    Citation:89 FR 97142
    Reading Time:about 36 minutes

    The document from the Securities and Exchange Commission (SEC) explains a proposed rule change by Banque Centrale de Compensation, known as LCH SA, regarding "Dealer Status." LCH SA wants to let affiliates of its Clearing Members, called CDS Dealers, submit transactions for clearing without needing to be Clearing Members themselves. This change aims to make clearing operations more efficient and reduce costs. The SEC is seeking public comments on this proposal.

    Simple Explanation

    Imagine a big group of people who work together to make sure money and trades are done safely. There's one group that wants to let their friends help with trades without needing special permission. This change might make things faster and cheaper, and now they want to know what everyone else thinks about the idea.