Search Results for keywords:"participant system disruption"

The Securities and Exchange Commission has released a notice about a proposed rule change by the Fixed Income Clearing Corporation (FICC) relating to disruptions caused by participants in its systems. The key changes include updating definitions, clarifying notification requirements for system disruptions, and setting new procedures for reconnecting participants after disruptions. These revisions aim to enhance the management of system risks, improve transparency, and ensure that reconnections are safe. The proposed changes are intended to support the accurate and efficient processing of securities transactions and safeguard the systems.

The Securities and Exchange Commission is reviewing a proposal from The Depository Trust Company (DTC) to amend its rules regarding disruptions to participant systems. These changes aim to clarify definitions, improve notification procedures, and update governance for handling major disruptions. The proposed adjustments also include new requirements for reporting and system "reconnection" after a disruption. The DTC hopes these updates will enhance the ability to manage risks and ensure smoother operation during system interruptions.

The National Securities Clearing Corporation (NSCC) has proposed a rule change related to how it handles disruptions in participant systems to ensure the safety and continuity of its operations. This change would update definitions and procedures within its rules to better manage events that could impact its systems, improve notification and reporting requirements when disruptions occur, and set new standards for how an affected participant could be reconnected. These measures aim to enhance the NSCC's ability to maintain efficient and secure securities transactions and protect the broader financial market from the effects of such disruptions. The Securities and Exchange Commission is inviting public comments on this proposal.