CME Group Announces Regulatory Approval of New Securities Clearing House

Rhea-AI Summary

CME Group (NYSE:CME) announced the SEC approved registration of a new securities clearing house, CME Securities Clearing Inc.

The clearing house is expected to launch in Q2 2026 and will support market participants complying with the SEC clearing mandate for U.S. Treasury transactions effective Dec 31, 2026 and Repo transactions effective June 30, 2027. The company said the service will clear both done-with and done-away execution and extend cross-margining with FICC.

Positive

• SEC approval of CME Securities Clearing registration
• Launch target set for Q2 2026
• Supports compliance with Treasury mandate Dec 31, 2026
• Supports compliance with Repo mandate June 30, 2027
• Extends cross-margining with FICC for market participants

Negative

• None.

Insights

Clearing and Market Structure Analyst

SEC approved CME Securities Clearing Inc.; launch planned in Q2 2026 to support Treasury and repo clearing mandates.

The approval establishes a regulated vehicle, CME Securities Clearing Inc., that will offer clearing for U.S. Treasury and repo transactions and integrate with existing CME Group clearing services and cross-margining with FICC. This creates an operational pathway for market participants to meet the SEC's stated clearing mandates by the specified dates while leveraging CME's existing infrastructure.

Key dependencies include successful operational readiness ahead of the launch window and participant onboarding to meet the December 31, 2026 (Treasury) and June 30, 2027 (Repo) compliance deadlines. Risks include any implementation delays, connectivity or rule harmonization issues with counterparties, and the need to align margin and capital practices with FICC integration. Monitor progress toward launch in Q2 2026, participant sign-ups, published rulebooks, and any follow-up regulatory communications over the next 6–12 months.

CHICAGO, Dec. 2, 2025 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that the U.S. Securities and Exchange Commission (SEC) has approved the registration of a new securities clearing house, CME Securities Clearing Inc.

With launch expected in Q2 2026, CME Group will operate CME Securities Clearing to help market participants comply with the SEC clearing mandate for U.S. Treasury transactions (as of December 31, 2026) and Repo transactions (as of June 30, 2027).

"Expanded clearing capacity and capital efficiencies are critical for all market participants working to comply with the U.S. Treasury clearing mandate," said Terry Duffy, CME Group Chairman and Chief Executive Officer. "We are pleased to provide a solution for clearing both done-with and done-away execution as we continue to extend industry-leading cross-margining with FICC."

For more information on CME Securities Clearing Inc., please visit here.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

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SOURCE CME Group

FAQ

What did CME announce about CME Securities Clearing Inc. (CME) on Dec 2, 2025?

CME announced the SEC approved registration of CME Securities Clearing Inc. to launch in Q2 2026.

How will CME Securities Clearing help CME (NYSE:CME) clients comply with the SEC clearing mandates?

It will provide clearing capacity for U.S. Treasury (mandate effective Dec 31, 2026) and Repo transactions (effective June 30, 2027).

When is CME Securities Clearing expected to begin operations for CME Group (CME)?

The company expects the clearing house to launch in Q2 2026.

Will CME Securities Clearing support both done-with and done-away execution for CME (CME)?

Yes; the announcement states it will clear both done-with and done-away execution.

Does CME plan to link CME Securities Clearing with other clearing utilities like FICC?

Yes; the company said it will extend industry-leading cross-margining with FICC.