Federal Register #Release No. 34-105736

SEC Regulatory Order on U.S. Treasury Securities Clearing and NYSE American Rule Change

This opportunity summary relates to a regulatory action by the U.S. Securities and Exchange Commission (SEC) affecting central clearing of U.S. Treasury securities: - Government Buyer: - U.S. Securities and Exchange Commission (SEC) - No OEMs, vendors, or commercial products are mentioned; this is a regulatory notice, not a procurement action - Regulatory Actions: - SEC grants conditional exemptive relief for repo transactions between Private Funds and their wholly owned Captive Clearing Subsidiaries in U.S. Treasury securities central clearing agencies - The exemption is designed to facilitate direct access to central clearing for Private Funds, increasing clearing capacity and improving risk management - NYSE American LLC proposes a rule change requiring American Trading Permit (ATP) Holders to review customer order activity monthly (instead of quarterly) to classify orders as Customer or Professional Customer, enhancing compliance timelines - No products, part numbers, or purchase quantities are specified - No unique technical or performance requirements are present, as this is not a procurement - The notice is regulatory in nature and does not involve the acquisition of goods or services

Description

This notice announces an order by the Securities and Exchange Commission granting conditional exemptive relief under Sections 17A and 36(a) of the Securities Exchange Act of 1934. The relief pertains to the definition of an "Eligible Secondary Market Transaction" in Rule 17ad-22(a). The amendments require covered clearing agencies providing central counterparty services for U.S. Treasury securities to establish policies for participation and transaction submission. The order includes provisions related to repurchase or reverse repurchase agreements collateralized by U.S. Treasury securities and defines affiliated counterparties for exemption purposes.

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