DTC Files Immediate Rule Change to Update Clearing Agency Risk Management Framework
The Depository Trust Company, FICC and NSCC must adopt the revised framework as of September 18, 2026.
On September 18, 2026, The Depository Trust Company (DTC) filed a proposed rule change with the Securities and Exchange Commission that became effective immediately. The notice appears in the Federal Register, Vol. 91, No. 190, pages 62763-62767, and is identified as Release No. 34-106524; File No. SR-DTC-2026-011.
The amendment revises the Clearing Agency Risk Management Framework used by DTC, the Fixed Income Clearing Corporation, and the National Securities Clearing Corporation. It clarifies and updates the framework by revising format and structure, adding a description of the 2024 Governance and Conflicts of Interest requirements, and making conforming and administrative updates that do not alter compliance with Rule 17ad-22(e).
Specific structural changes include renaming Section 1 from "Executive Summary" to "Purpose," renaming Section 2 to "Roles and Responsibilities," and creating a new Section 3 titled "Audience." Language concerning framework ownership, approval processes, and the General Counsel's review is relocated to Sections 3 and 8 as detailed in the filing.
The filing is made pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4, with the proposed rule change also filed under Section 19(b)(3)(A). The Commission is soliciting comments from interested persons on the proposed amendment.
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