SIA Submits Comments to The Options Clearing Corporation on Close-Out Netting Procedures
Published on:
February 15, 2006
The Dealer Accounting Committee of the Securities Industry Association (SIA)* provides comments to The Options Clearing Corporation on aproposed rule change to provide for close-out netting procedures. The letter follows a meeting between the members of the Dealer Accounting Committee and The Options Clearing Corporation. SIA offersits substantial professional expertise and practical experience addressing the legal and accounting issues with respect to U.S. GAAP and Basel netting requirements to the Corporation.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.