On October 22nd, the SEC adopted a new final rule which establishes standards for how registered clearing agencies should manage their risks and run their operations. Among other things, the rule sets standards for the measurement and management of credit exposures, margin requirements, financial resources and margin model validation. The rule also establishes recordkeeping and financial disclosure requirements for all registered clearing agencies as well as several new operational standards for these entities. New Rule 17Ad-22 will become effective 60 days after the date of publication in the Federal Register, which is expected during the week of October 29. SEC Press Release.