SEC and CFTC Issue Final Rule on Security Futures Margin and Request for Comment on Portfolio Margining

The SEC and the Commodity Futures Trading Commission (CFTC) have issued a joint final rule, Customer Margin Rules Relating to Security Futures, that is intended to “harmonize the minimum margin level for security futures, whether they are held in a futures account, a securities portfolio margin account, or a securities account that is not approved for portfolio margining.”

In addition, the SEC and the CFTC have issued a joint request for comment, Portfolio Margining of Uncleared Swaps and Non-Cleared Security-Based Swaps, which seeks feedback on “potential ways to implement portfolio margining of uncleared swaps and non-cleared security based swaps.”

For more information, see the press release and statement by SEC Chairman Jay Clayton on the SEC’s Web site.