SEC grants Cboe Clear U.S. temporary clearing agency registration

The Securities and Exchange Commission issued an order on Oct. 22, 2026 granting Cboe Clear U.S., LLC (CCUS) temporary registration as a clearing agency under Section 17A(b) of the Exchange Act. The order provides an exemption from the requirements identified in Sections 17A(b)(3)(B) and (F) for a period of 18 months from the date of the order.

CCUS filed its original Form CA-1 application on June 30, 2026, seeking to clear binary options that are securities. The Commission published a notice of the application on July 24, 2026. CCUS submitted amendments on July 7, Aug. 18, Sept. 4 and Oct. 1, 2026, updating exhibits and adding a Certificate of Good Standing and public disclosures under the CPMI-IOSCO Principles.

The Commission received one comment letter, dated Sept. 8, 2026, which supported the temporary registration but raised concerns about vertically integrated solutions and capital costs. CCUS responded on Sept. 25, 2026. Both the comment and the response are part of the public comment file referenced in the order.

Under Rule 17Ab2-1(c), the temporary registration is effective for 18 months, after which the Commission must decide on permanent registration within nine months of the temporary registration's effective date. The order therefore establishes a limited-duration framework for CCUS to provide central counterparty services while the Commission continues its oversight.

During the temporary period, CCUS must comply with all applicable provisions of the Exchange Act and related regulations, except for those from which it is exempted. The Commission retains authority to monitor, inspect and enforce compliance to protect investors and maintain market integrity.