Sec cftc portfolio margining

The CFTC has approved portfolio margining using the SPAN system for all currently traded futures contracts, at both the clearing level and the customer level. 39 The SEC has approved portfolio margining using The Options Clearing Corporation's ("The OCC") Theoretical Intermarket Margin System ("TIMS") for margin collected by The OCC for the These important issues are right at the intersection of SEC-CFTC jurisdiction: Security Futures Margin and Portfolio Margining. Security Futures Margin—Jumpstarting the Market. We are considering whether to adopt rule amendments to align the minimum margin required on security futures with other similar financial products.

26.11.2020

The interpretations use a numbering convention of /##. Security futures positions may be held in either a securities or futures account. The protections for your funds and security futures positions differ depending on whether the account is a securities account or a futures account, so make sure you understand the regulatory protections available to your funds and positions if your firm fails. Jul 04, 2019 Overview of Portfolio Margining. Portfolio margining is a margin methodology that sets margin requirements for an account based on the greatest projected net loss of all positions in a class or product group as determined by an option pricing model at multiple underlying price points.A class group contains all products with the same deliverable and the deliverable itself. Sunshine Act Meetings: October 22, 2020 // PDF Version. Open Commission Meeting October 22, 2020; Matters to be Considered: The Commodity Futures Trading Commission (CFTC) will hold this meeting jointly with the Securities and Exchange Commission to consider the following matters: Joint Final Rule: Customer Margin Rules Relating to Security Futures--The Commissions will consider whether to Re: SEC/CFTC Harmonization Report.

Portfolio margining of index CDS (subject to CFTC regulations)16 and single-name CDS (subject to SEC regulations) can offer many benefits to investors and the markets, including promoting greater efficiencies in clearing with respect to off-setting positions and thereby

Washington D.C., Oct. 22, 2020 —. The Securities and Exchange Commission and the Commodity Futures Trading Commission, at their first joint open meeting to vote on rulemaking initiatives, today approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum CFTC Chair Heath P. Tarbert stressed the "central importance" of portfolio margining to dually-registered market participants that have customers holding positions in separate accounts without the In a joint request for comment, the SEC and CFTC solicited feedback on possible methods for implementing portfolio margining of SEC- and CFTC-regulated products (including swaps, security-based swaps, securities and futures). The joint request for comment seeks input from market participants on all facets of portfolio margining including (i The Securities and Exchange Commission and the Commodity Futures Trading Commission approved a joint final rule today to harmonize their margin levels for security futures “whether they are held in a futures account, a securities portfolio margin account, or a securities account that is not approved for portfolio margining.” In a joint request for comment, the SEC and CFTC solicited feedback on possible methods for implementing portfolio margining of SEC- and CFTC-regulated products (including swaps, security-based In other words, while the statement is a good message to the markets that the CFTC and SEC would like to accomplish goals of permitting broad portfolio margining, it is not clear how the agencies intend to address issues under custody and insolvency rules applicable to CFTC- and SEC-regulated products and market intermediaries. The Securities and Exchange Commission and the Commodity Futures Trading Commission, at their first joint open meeting to vote on rulemaking initiatives, approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum margin level for security futures held in a securities portfolio margin account, and (2) the issuance of a SEC Chair Jay Clayton and CFTC Chair J. Christopher Giancarlo stated their intention to explore whether portfolio margining would be an area where SEC-CFTC "harmonization" would be beneficial.

Joint Statement on CFTC-SEC Portfolio Margining Harmonization Efforts. Chairman Jay Clayton. June 27, 2019. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo and Securities and Exchange Commission Chairman Jay Clayton issued the following joint statement today: “We and our colleagues at the CFTC and the SEC are committed to working together to ensure that our regulations are effective, consistent, mutually reinforcing, and efficient.

However, until segregation issues between the SEC and the CFTC are resolved, the ability to combine securities and futures products into a single portfolio margin account will be unavailable. Is an OTC derivative that has a non-margin equity security as its underlier eligible for portfolio margin? [2] Margin Requirements for Non-Centrally Cleared Derivatives, Basel Committee on Banking Supervision and Board of the International Organization of Securities Commissions (Sept. 2013) . See Joint Statement on CFTC-SEC Portfolio Margining Harmonization Efforts (June 27, 2019) .

Oct 22, 2020 Oct 22, 2020 Nov 10, 2020 Similarly, under section 4d(h) of the CEA, a BD/FCM may, pursuant to a portfolio margining program approved by the SEC, hold in a portfolio margining account carried as a securities account a contract for the purchase or sale of a commodity for future delivery or an option on such a contract and assets received from a customer to margin Portfolio margining generally refers to the cross margining of related positions in a single account, allowing netting of appropriate offsetting exposures. Portfolio margining of uncleared swaps, non-cleared security-based swaps, and related positions can offer benefits to customers and the markets, including Oct 16, 2020 Whatever the SEC does on its side to facilitate portfolio margining, the CFTC will have to mirror it, as was the case with the 2012 exemption. Giancarlo said in the House hearing that the CFTC and SEC have achieved “unprecedented levels of co-operation” under his term, including on these particular rules. The CFTC and SEC have delegated Jun 27, 2019 CFTC Commissioner Scott O'Malia agreed that portfolio margining brings benefits to the market and its participants, but stated that the SEC has set a bad precedent by requiring final SEC approval of the margining methodology employed by a joint Broker Dealer (BD) / Futures Commission Merchant (FCM) offering Section 4d(f) portfolio margin accounts. Dec 31, 2012 Sep 02, 2019 Dec 08, 2020 The rule explains the margin requirements for equity and fixed income securities, along with options, warrants and security futures. Below is the text and interpretations of FINRA Rule 4210. The interpretations immediately follow the section of the rule to which they relate.

Portfolio Margin Similarly, under section 4d(h) of the CEA, a BD/FCM may, pursuant to a portfolio margining program approved by the SEC, hold in a portfolio margining account carried as a securities account a contract for the purchase or sale of a commodity for future delivery or an option on such a contract and assets received from a customer to margin Oct 15, 2020 · SEC and CFTC to Hold a Joint Open Meeting on October 22. FOR IMMEDIATE RELEASE 2020-259 Washington D.C., Oct. 15, 2020 — Whatever the SEC does on its side to facilitate portfolio margining, the CFTC will have to mirror it, as was the case with the 2012 exemption. Giancarlo said in the House hearing that the CFTC and SEC have achieved “unprecedented levels of co-operation” under his term, including on these particular rules. The CFTC and SEC have delegated Oct 16, 2020 · The SEC and the CFTC announced that they will host a virtual open meeting on Thursday, October 22, 2020, at 10:00 am EDT to discuss aspects of the portfolio margining of uncleared swaps, non-cleared security-based swaps, and related positions.

Nov 05, 2020 · The Commodity Futures Trading Commission (``CFTC'') and the Securities and Exchange Commission (``SEC'') (collectively, the ``Commissions'') seek public comment on potential ways to implement portfolio margining of uncleared swaps and non-cleared security-based swaps. Oct 15, 2020 · CFTC and SEC to Hold a Joint Open Meeting on October 22 October 15, 2020 Washington, D.C. — Commodity Futures Trading Commission Chairman Heath P. Tarbert today announced the CFTC will hold a joint open meeting with the U.S. Securities and Exchange Commission on Thursday, October 22, 2020 at 10:00 a.m. (EDT). Customer Portfolio Margin Customer Portfolio Margin System ("CPM") was developed by The Options Clearing Corporation ("The OCC") to support portfolio-based margining of customer accounts. Based on the TIMS margin methodology, CPM takes an OCC generated master file of profit and loss values and a user generated position file as input.

Jun 27, 2019 · Joint Statement on CFTC-SEC Portfolio Margining Harmonization Efforts June 27, 2019 Washington, DC – Commodity Futures Trading Commission Chairman J. Christopher Giancarlo and Securities and Exchange Commission Chairman Jay Clayton issued the following joint statement today: Oct 23, 2020 · CFTC Chair Heath P. Tarbert stressed the "central importance" of portfolio margining to dually-registered market participants that have customers holding positions in separate accounts without the possibility of cross-margining such positions. Oct 22, 2020 · The SEC and the Commodity Futures Trading Commission (CFTC) have issued a joint final rule, Customer Margin Rules Relating to Security Futures, that is intended to “harmonize the minimum margin level for security futures, whether they are held in a futures account, a securities portfolio margin account, or a securities account that is not approved for portfolio margining.” Oct 22, 2020 · The Securities and Exchange Commission and the Commodity Futures Trading Commission approved a joint final rule today to harmonize their margin levels for security futures “whether they are held in a futures account, a securities portfolio margin account, or a securities account that is not approved for portfolio margining.” Oct 22, 2020 · The Securities and Exchange Commission and the Commodity Futures Trading Commission, at their first joint open meeting to vote on rulemaking initiatives, approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum margin level for security futures held in a securities portfolio margin account, and (2) the issuance of a Oct 27, 2020 · The SEC and CFTC (collectively, the "Commissions") adopted a final rule reducing the margin requirements for security futures. The final rule harmonized the requirements regardless of whether such products are held in a futures account or in a securities portfolio margin account. Oct 23, 2020 · Request for comment on portfolio margining. All 10 commissioners voted to approve a release requesting comments on portfolio margining of uncleared swaps (under the CFTC’s jurisdiction), non-cleared security-based swaps (under the SEC’s jurisdiction), and related positions.

Portfolio Margining at a Broker-Dealer that is also Registered as a Swap SEC/CFTC Security Futures Margin Rules (CFTC Rule 41.45). 27 Oct 2020 approve the issuance of a joint request for comment on the portfolio margining of uncleared swaps and non-cleared security-based swaps. The 23 Oct 2020 CFTC and SEC Approve Final Rule on Security Futures Margin and Request for Comment on Portfolio Margining.

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Portfolio margining generally refers to the cross margining of related positions in a single account, allowing netting of appropriate offsetting exposures. Portfolio margining of uncleared swaps, non-cleared security-based swaps, and related positions can offer benefits to customers and the markets, including

The Securities and Exchange Commission and the Commodity Futures Trading Commission, at their first joint open meeting to vote on rulemaking initiatives, today approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum CFTC Chair Heath P. Tarbert stressed the "central importance" of portfolio margining to dually-registered market participants that have customers holding positions in separate accounts without the In a joint request for comment, the SEC and CFTC solicited feedback on possible methods for implementing portfolio margining of SEC- and CFTC-regulated products (including swaps, security-based swaps, securities and futures). The joint request for comment seeks input from market participants on all facets of portfolio margining including (i The Securities and Exchange Commission and the Commodity Futures Trading Commission approved a joint final rule today to harmonize their margin levels for security futures “whether they are held in a futures account, a securities portfolio margin account, or a securities account that is not approved for portfolio margining.” In a joint request for comment, the SEC and CFTC solicited feedback on possible methods for implementing portfolio margining of SEC- and CFTC-regulated products (including swaps, security-based In other words, while the statement is a good message to the markets that the CFTC and SEC would like to accomplish goals of permitting broad portfolio margining, it is not clear how the agencies intend to address issues under custody and insolvency rules applicable to CFTC- and SEC-regulated products and market intermediaries. The Securities and Exchange Commission and the Commodity Futures Trading Commission, at their first joint open meeting to vote on rulemaking initiatives, approved: (1) a joint final rule to harmonize the minimum margin level for security futures held in a futures account with the minimum margin level for security futures held in a securities portfolio margin account, and (2) the issuance of a SEC Chair Jay Clayton and CFTC Chair J. Christopher Giancarlo stated their intention to explore whether portfolio margining would be an area where SEC-CFTC "harmonization" would be beneficial. The CFTC has approved portfolio margining using the SPAN system for all currently traded futures contracts, at both the clearing level and the customer level. 39 The SEC has approved portfolio margining using The Options Clearing Corporation's ("The OCC") Theoretical Intermarket Margin System ("TIMS") for margin collected by The OCC for the These important issues are right at the intersection of SEC-CFTC jurisdiction: Security Futures Margin and Portfolio Margining.