SEC assists broker-dealers with US Treasury clearing rules
01 October 2025 US
Image: Nyetock/stock.adobe.com
The US Securities and Exchange Commission (SEC) has enhanced its efforts to assist broker-dealers and other market participants on the path to central clearing of US Treasury securities.
As part of these efforts, the Commission has developed a one-stop-webpage that provides the latest status updates, staff statements, and other related materials.
While the SEC adopted the US Treasury clearing rule changes in December 2023, the Commission extended the original compliance dates and declared its continuing readiness to engage with market participants on compliance, operational, and interpretive questions.
Mark T Uyeda, SEC Commissioner, was tasked with leading the agency鈥檚 initiative to facilitate the transition to clearing US Treasury securities by chairman, Paul S Atkins.
He has now issued an update, emphasising the agency鈥檚 continued focus on 鈥済etting implementation right鈥�.
He explains: 鈥淐hanges to the US Treasury market must be done carefully and deliberatively to avoid disruption.
鈥淎ccordingly, 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.鈥�
The SEC鈥檚 webpage dedicated to US Treasury clearing implementation is intended to provide market participants with 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 has 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 US Treasury market, and proposed rule changes filed by self-regulatory organisations related to the US Treasury clearing rules.
As part of these efforts, the Commission has developed a one-stop-webpage that provides the latest status updates, staff statements, and other related materials.
While the SEC adopted the US Treasury clearing rule changes in December 2023, the Commission extended the original compliance dates and declared its continuing readiness to engage with market participants on compliance, operational, and interpretive questions.
Mark T Uyeda, SEC Commissioner, was tasked with leading the agency鈥檚 initiative to facilitate the transition to clearing US Treasury securities by chairman, Paul S Atkins.
He has now issued an update, emphasising the agency鈥檚 continued focus on 鈥済etting implementation right鈥�.
He explains: 鈥淐hanges to the US Treasury market must be done carefully and deliberatively to avoid disruption.
鈥淎ccordingly, 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.鈥�
The SEC鈥檚 webpage dedicated to US Treasury clearing implementation is intended to provide market participants with 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 has 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 US Treasury market, and proposed rule changes filed by self-regulatory organisations related to the US Treasury clearing rules.
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