Self-clearing member recognition extended to currency derivatives, requiring deposit and maintenance of specified net worth conditions. Amendment expands the regulations to cover the currency derivatives segment and substitutes 'clearing member' with 'clearing member or self-clearing member' in Chapter IIIB, specified schedules and forms. It adds that an applicant desiring to act as a self-clearing member in the currency derivatives segment must, in addition to existing requirements, deposit a sum with the clearing corporation or clearing house and maintain such net worth as specified by the Board, and updates the Explanation to regulation 16L accordingly.
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Self-clearing member recognition extended to currency derivatives, requiring deposit and maintenance of specified net worth conditions.
Amendment expands the regulations to cover the currency derivatives segment and substitutes "clearing member" with "clearing member or self-clearing member" in Chapter IIIB, specified schedules and forms. It adds that an applicant desiring to act as a self-clearing member in the currency derivatives segment must, in addition to existing requirements, deposit a sum with the clearing corporation or clearing house and maintain such net worth as specified by the Board, and updates the Explanation to regulation 16L accordingly.
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