On June 26th, the SEC and the Commodity Futures Trading Commission (CFTC) published a joint request for comment to consider ways to expand portfolio and cross‑margining. Input from the public may inform how updates affect the ability of securities and derivatives regulated by the SEC, the CFTC, or both agencies to be consolidated and margined in a unified manner, thus offsetting their risks and managing them in a single framework.
The agencies are requesting feedback focused on the following:
- opportunities to expand portfolio margining across related positions
- potential models for cross‑margining between products regulated by the SEC and CFTC
- risk, liquidity, and collateral impacts of broader margin recognition
- operational and technological considerations for implementation
- safeguards needed to ensure market stability and customer protection
For more information on the Joint Request for Comment on Further Implementation of Portfolio Margining and Cross-Margining of Securities and Derivatives joint for request for comment, please visit the SEC’s site.
The SEC and CFTC welcome comments during the public comment period, which will remain open for 60 days following publication in the Federal Register.
Sources:
SEC, CFTC Seek Public Comment on the Harmonization of Portfolio Margining Frameworks (sec.gov)
Joint Request for Comment on Further Implementation of Portfolio Margining and Cross-Margining of Securities and Derivatives (sec.gov)
