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. 34-106723; File No. 600-47] October 22, 2026. I. Introduction On June 30, 2026, Cboe Clear U.S., LLC (“CCUS”) filed with the Securities and Exchange Commission (“Commission”) an application on Form CA-1 under Section 17A of the Securities Exchange Act of 1934 (“Exchange Act”)  [ 1 ] seeking to register as a clearing agency to provide central counterparty (“CCP”) services for binary options that are securities. [ 2 ] In its application, CCUS requests temporary registration as a clearing agency under Section 17A(b) of the Exchange Act and pursuant to 17 CFR 240.17ab2-1 (“Rule 17Ab2-1”). [ 3 ] Notice of the application (“Notice”) was published for comment in the Federal Register on July 24, 2026. [ 4 ] CCUS amended its application on July 7 and 17, August 18, September 4, and October 1, [ 5 ] 2026 (as amended, “Application”). [ 6 ] The Commission received one comment letter, as well as a response from CCUS. [ 7 ] The comment letter supports approval of CCUS's request for temporary registration as a “stopgap;” as to permanent registration, it raises concerns as to the risk of vertically integrated solutions and requests that the Commission consider the capital costs and risks of a more fragmented clearing structure. [ 8 ] The comment letter received, and CCUS's response thereto, [ 9 ] are discussed in Parts III and IV. This order g…
Citation: 91 FR 67624
