Federal Register #SR-CMESC-2026-011

SEC notice seeks comments on CME Securities Clearing’s proposed default-management rule changes

The SEC notice concerns proposed changes to CME Securities Clearing Inc.’s default-management rules, not a government purchase or contract award. - Government agency: U.S. Securities and Exchange Commission (SEC). - Filing entity: CME Securities Clearing Inc. (CMESC). - Proposal: Amend CMESC’s Risk Management Framework to clarify procedures for handling Member and User defaults. - Covers possible use of third-party liquidation agents and execution brokers. - Describes operational measures for containing risk and closing out defaulted portfolios. - Clarifies the CMESC Risk Management Committee’s role in designing default-management procedures. - Procurement status: No products, quantities, or services are being requested; no OEMs or procurement vendors are identified.

Description

CME Securities Clearing Inc. proposes amendments to its Risk Management Framework related to default management practices. The changes would provide more detail on using a third-party liquidation agent and execution brokers to assess exposures and close out a defaulted participant’s portfolio. They also clarify procedures for member and user defaults, operational steps for managing defaults, and the role of the CMESC Risk Management Committee in designing default management procedures. The Securities and Exchange Commission is soliciting comments on the proposed rule change.

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