SEC Continues Efforts To Assist Market Participants During Implementation Of Treasury Clearing Rules
The SEC adopted the rule changes in December 2023. To provide additional time for further engagement on compliance, operational, and interpretive questions, and to facilitate an orderly implementation of the rules, the Commission extended the original compliance dates and announced its continuing readiness to engage with market participants on compliance, operational, and interpretive questions.
SEC Commissioner Mark T. Uyeda, whom Chairman Paul S. Atkins has tasked with leading the agency's initiative to facilitate the transition to clearing U.S. Treasury securities, today issued an update , emphasizing the agency's continued focus on getting implementation right.
“Changes to the U.S. Treasury market must be done carefully and deliberatively to avoid disruption,” the statement said.“Accordingly, Commission staff, in close collaboration with colleagues at other financial federal regulators, and a broad set of market participants have been diligently working towards implementing the Treasury Clearing rule.”
The SEC's webpage dedicated to U.S. Treasury clearing implementation is intended to provide market participants with streamlined access to relevant SEC staff statements, including answers to frequently asked questions, and other related materials to facilitate clarity, transparency, and efficiency during the transition process.
The Division of Trading and Markets today issued answers to Frequently Asked Questions regarding the applicability of the Treasury Clearing rule to certain general collateral triparty repos, which are also referred to as mixed CUSIP triparty repos.
Other related materials accessible from the new webpage include applications filed by entities seeking registration as clearing agencies to provide central counterparty services for the U.S. Treasury market and proposed rule changes filed by self-regulatory organizations related to the U.S. Treasury clearing rules.
While preparing for compliance during the implementation period, market participants can contact SEC staff in the Division of Trading and Markets directly with questions by emailing ... or calling 202-551-5777.
SOURCE: Newsfile SEC Press Digest

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