CME Securities Clearing, Inc. (CMESC) submitted an application to the Securities and Exchange Commission (SEC) to become a registered clearing agency. The SEC is assessing whether CMESC meets the legal and regulatory standards under the Securities Exchange Act of 1934. CMESC plans to offer clearing services for U.S. Treasury securities and repurchase agreements, and it is fully owned by CME Group, Inc. The public is invited to provide comments and data regarding the application, as the SEC considers whether to approve or deny CMESC’s registration.
Simple Explanation
CME Securities Clearing wants to help manage and sort through trading of U.S. Treasury bonds, but first, the important group that checks on these things is looking to see if they follow the rules. They're asking people to share their thoughts on whether CME is ready to do this job.