Statement Summary
The SEC’s Division of Trading and Markets has released FAQs to assist broker-dealers regarding rule amendments related to the central clearing of U.S. Treasury securities. Director Jamie Selway emphasized the SEC’s commitment to aiding compliance as the deadlines of Dec. 31, 2026, and June 30, 2027, approach for cash and repo transactions. Chairman Paul S. Atkins appointed Commissioner Mark T. Uyeda to oversee the transition to central clearing, ensuring a smooth process. They recognize the importance of the U.S. Treasury market and are keen to engage with stakeholders for guidance and clarification, aiming to enhance the market’s functioning for better global finance stability.
Original Statement
The Securities and Exchange Commission’s Division of Trading and Markets today issued answers to Frequently Asked Questions (FAQs) that broker-dealers have posed to the staff regarding rule amendments to the customer protection rule related to the clearing of U.S. Treasury securities.
“The staff is committed to assisting broker-dealers and other market participants on the path to central clearing in the U.S. Treasury market,” said Jamie Selway, Director of the Division of Trading and Markets. “FAQs are one of the numerous ways in which Commission staff is continuing to engage to provide clarity to market participants as the compliance dates of Dec. 31, 2026, and June 30, 2027, approach, for cash and repo respectively.”
Separately, Chairman Paul S. Atkins today announced that Commissioner Mark T. Uyeda will lead the agency’s continued efforts related to central clearing of U.S. Treasuries.
“It is critical that the transition to clearing U.S. Treasury securities goes smoothly,” said Chairman Atkins. “To that end, I am pleased Commissioner Uyeda has agreed to coordinate the ongoing work being done across the SEC to prepare. Industry has raised a number of areas where the transition effort could benefit from further guidance, and today the staff made progress on providing clarification. There’s work still to be done, both at the agency and within industry, and Commissioner Uyeda and I look forward to engaging with stakeholders to make sure we get this right.”
Commissioner Uyeda said, “The U.S. Treasury market plays a key role in global finance and is of central importance to our country and the world. The SEC is committed to engaging with market participants, central banks, and fellow regulators to make sure the policies we implement enhance the Treasury market’s functioning.”
