In conjunction, the agencies have created a new initiative aimed at clarifying a regulatory framework for crypto, reducing frictions for dually registered trading venues, modernising clearing, and streamlining trade data reporting.
Approval comes as the SEC’s Treasury clearing mandate accelerates, opening the market to new clearing venues ahead of phased compliance deadlines.
If approved, the offering – Global Trading Hours - will add a ‘night’ session to the exchange’s trading hours, set to run from 9pm to 4am ET the next calendar day.
The SEC authorisation covers an initial three-year period, spanning instruments including securities within the Russell 1000 index, ETFs linked to major benchmarks, and US Treasury bills, notes and bonds.
The past week saw both hires and departures across fixed income, regulation and the c-suite.
The past week saw appointments across execution trading, fixed income, regulation, quantitative services and markets.
New proposed rules address the Commission’s new requirements for including margin in the broker-dealer reserve formulas, as well as highlighting the similarities between the Agent Clearing Service and other agent clearing models.
The past week saw moves across regulation, TCA sales, and trade coverage.
With the global market trend heading towards shorter settlement cycles, SEC chair stresses the need for the UK to kickstart compression plans even if some market participants raise concerns.
The investment advisor has acknowledged that its conduct violated the federal securities laws and agreed to implement improvements to its compliance policies and procedures.