Securities and Exchange Commission
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-104981; File No. SR-NSCC-2026-001] March 12, 2026. I. Introduction On January 16, 2026, National Securities Clearing Corporation (“NSCC”) filed with the Securities and Exchange Commission (“Commission”) proposed rule change SR-NSCC-2026-001, pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”)  [ 1 ] and Rule 19b-4 thereunder. [ 2 ] The proposed rule change would amend the NSCC Rules & Procedures (“NSCC Rules”) to facilitate clearing for the primary market creation and redemption of exchange-traded funds (“ETFs”) that have options as underlying components by implementing new messaging connectivity between NSCC and The Options Clearing Corporation (“OCC”) and allowing NSCC to submit instructions to OCC on behalf of their participants. [ 3 ] The proposed rule change was published for comment in the Federal Register on January 29, 2026. [ 4 ] The Commission has received one comment on the changes proposed. [ 5 ] For the reasons discussed below, the Commission is approving the proposed rule change. II. Background ETFs (referred to as “index receipts” in the NSCC Rules) are marketable securities that track stock indices, commodities, bonds, or baskets of assets. Shares of ETFs are created and redeemed in the primary market and are traded on listed exchanges in the secondary market. Each share of an ETF represents a…
Citation: 91 FR 12866
