# Federal Register #2026-21931

SEC Conditional Relief for Customer Binary-Options Margin Held at CCUS

**Buyer:** Securities and Exchange Commission
**Posted:** October 28, 2026
**Identifier:** 2026-21931

The SEC issued conditional regulatory relief for broker-dealers clearing customer binary-options contracts through Cboe Clear U.S., LLC (CCUS).
- **Government agency:** U.S. Securities and Exchange Commission (SEC); no procurement buyer or purchasing office is identified.
- **Entities named:** Cboe Clear U.S., LLC (CCUS) and the Options Clearing Corporation (OCC). Neither is identified as an OEM or vendor for a purchase.
- **What the relief permits:** Eligible broker-dealers may treat qualifying margin required and deposited at CCUS for customer binary-options contracts as a debit in customer and proprietary accounts of broker-dealers (PAB) reserve computations under Rule 15c3-3a, comparable to treatment for margin held at OCC.
- **Key conditions:** The relief is limited to customer binary-option positions and depends on CCUS being registered as a clearing agency, compliant margining, separate maintenance of customer and proprietary margin, meeting collateral conditions in Note F to Item 13, and amending CCUS rules to implement the order.
- **Procurement status:** This is a regulatory action, not a solicitation or award; no products, services, quantities, or part numbers are requested.

### Description

The Securities and Exchange Commission order grants conditional exemptive relief to broker-dealers that are clearing members of Cboe Clear U.S., LLC (CCUS). It allows those clearing members to include in their customer and proprietary accounts of broker-dealers reserve computations a debit for margin required and on deposit with CCUS for binary options contracts in customer accounts. The relief is subject to conditions, including CCUS registration as a clearing agency, eligibility limited to customer binary-option positions, customer margining and segregation requirements, and amendment of CCUS rules to reflect the order’s conditions.

[View original listing](https://www.federalregister.gov/documents/2026/10/28/2026-21931/order-under-section-36-of-the-securities-exchange-act-of-1934-granting-conditional-exemptive-relief)