# Federal Register #SR-OCC-2025-018

SEC approves OCC’s revised Clearing Fund contribution allocation methodology

**Buyer:** Securities and Exchange Commission
**Posted:** October 06, 2026
**Identifier:** SR-OCC-2025-018

The Securities and Exchange Commission (SEC) approved a rule change proposed by The Options Clearing Corporation (OCC) for allocating clearing members’ Clearing Fund contributions.
- **Government agency:** SEC.
- **Organization proposing the change:** OCC, a registered clearing agency; this is a regulatory matter, not a government procurement.
- **What changes:** Contributions are allocated using three factors: stress loss over initial margin (70%), margin (15%), and cleared volume (15%). Open interest is removed as an allocation factor.
- **Purpose and scope:** The revised methodology is intended to align contributions more closely with each member’s stress-based risk. It changes how contributions are allocated, not the overall size of the Clearing Fund.
- **Other named party:** Fidelity Investments petitioned for review. The summary also refers to comments from market participants and other organizations, without identifying them by name.
- **Procurement items:** No products or services, quantities, or part numbers are requested.

### Description

The Securities and Exchange Commission order approves a modified Options Clearing Corporation proposed rule change concerning how Clearing Fund deposit requirements are allocated among clearing members. The proposal introduces a risk-based shortfall allocation and changes the weighting assigned to margin and cleared volume to better align member contributions with stress-based risk. It concerns allocation of collateral contributions and does not change the overall size of the Clearing Fund. The Commission states that it conducted a de novo review and found the proposed rule change consistent with applicable requirements of the Exchange Act.

[View original listing](https://www.federalregister.gov/documents/2026/10/06/2026-20465/self-regulatory-organizations-the-options-clearing-corporation-order-setting-aside-action-by)