The SEC has approved changes to the Options Clearing Corporation’s membership standards, expanding its tools for assessing applicants and monitoring existing clearing firms. The 21 October order approves filing SR-OCC-2026-009.[1]
Applicants need either a year of relevant operating history or sufficiently experienced senior personnel. A fully remote business remains possible where OCC determines that it creates no heightened risk. These alternatives matter for firms building a clearing operation.[1]
Business changes can trigger a fresh membership review
The approved Rule 309 permits OCC to require reapplication after a material financial, operational or strategic change that could adversely affect it. The filing gives the example of a substantial business sale leaving a member unable to maintain required capital or risk staff.[2]
A member’s access remains active during reapplication, subject to OCC’s protective and suspension powers. Reapplication therefore creates a new review of the firm’s ability to support clearing obligations while its business continues.[2]
The standards also allow risk-based capital requirements above fixed minima and additional protective measures, including parent or affiliate guarantees. For a broker, restructuring can consequently affect resources required to retain clearing access.[1]
A denied applicant or reapplicant can request a Risk Committee hearing, present evidence and receive written reasons. Those procedures make the decision contestable while preserving OCC’s ability to respond to changed risk.[2]
Sources & further reading
- Approval of SR-OCC-2026-009 US Securities and Exchange Commission · 21 Oct 2026 · Accessed 21 Oct 2026
- Clearing membership standards filing Options Clearing Corporation, via SEC · 2 Sep 2026 · Accessed 21 Oct 2026