Options Clearing Corporation Proposes Internal Cross-Margining Program for Market Professionals

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The Options Clearing Corporation (OCC) has submitted a petition to the Commodity Futures Trading Commission to permit OCC to operate an internal non-proprietary cross-margining program available to market professionals who trade futures products and securities products that are cleared by OCC in its capacity as a derivatives clearing organization and a securities clearing agency, respectively.

The CFTC requires that cross-margined futures and securities positions that are cleared solely by OCC be cleared by the same clearing member. OCC is requesting a modification to permit internal non-proprietary cross-margining accounts to be maintained at OCC jointly by a pair of affiliated clearing members, each of which is dually registered as a futures commission merchant and a securities broker-dealer.

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