OCC Files Proposed Amendments to Clearing Membership Standards

The Securities and Exchange Commission published a notice on September 2, 2026 that the Options Clearing Corporation filed a proposed rule change on August 19, 2026. The filing, identified as File No. SR-OCC-2026-009 and Release No. 34-106264 (FR Doc No: 2026-18211), seeks to amend OCC's clearing membership standards and invites comment from interested persons.

The proposal builds on enhancements approved in 2023 (Order No. 97439) and aims to improve risk mitigation and align with evolving technology and industry best practices. OCC indicates the changes will address onboarding requirements for new applicants, risk-mitigation obligations for existing clearing members, and the expansion of delegated authority and protective measures.

Key elements include requiring applicants to maintain a minimum operating history of one year, a physical office facility, and, upon OCC request, a third-party-assessed business plan. The rule also expands disclosure obligations - such as internal stress tests, credit agreements, and audited financial statements - and amends eligibility and admission procedures, delegating certain decisions to the Risk Committee's designated delegates (proposed Rules 203, 204, 307B). Additional provisions adopt confidentiality requirements for non-public information (proposed Rules 203, 207, 306).

The substantive amendments are set out in Exhibit 5 to the filing, with additions underlined and deletions struck through. The SEC's notice appears in the Federal Register, Volume 91, Number 172, pages 57183-57205, and outlines the standard procedures for submitting comments.

No effective date is provided; the amendments will become effective only if the Commission adopts the rule after the comment period and any subsequent action.