美国商品期货交易委员会批准进一步加强美国国债市场流动性的命令

美国商品期货交易委员会批准进一步加强美国国债市场流动性的命令美国商品期货交易委员会
版本号 9214-26
美国商品期货交易委员会批准进一步加强美国国债市场流动性的命令
2026 年 4 月 15 日
华盛顿——商品期货交易委员会今天批准了一项命令，给予芝加哥商业交易所和固定收益清算公司必要的有限豁免，以便在适当的保障措施下向某些客户提供现有的交叉保证金安排。
该命令允许在美国证券交易委员会双重注册为经纪自营商的 CME 和 FICC 联合清算会员以及在委员会注册的期货佣金商将期货客户资金保存在 FICC 的混合客户账户中。在今天的豁免令之前，只有清算会员才能将在 CME 清算的美国国债的跨保证金期货头寸与在 FICC 清算的美国国债的现金市场头寸进行交叉。
“今天的联合行动支持 CFTC 和 SEC 为增强美国国债市场的弹性和流动性而做出的更广泛的努力，”主席迈克尔·塞利格 (Michael S. Selig) 表示。 “通过在相关产品中实现更有效的风险管理，该提案使我们更接近于更现代、更稳健的市场结构。”
该豁免令将在 CFTC.gov 上发布并在《联邦公报》上公布。相关的 SEC 豁免令将在 SEC.gov 上发布并在《联邦公报》上公布。
-CFTC-

CFTC Approves Order to Further Strengthen U.S. Treasury Market Liquidity | CFTC
Release Number 9214-26
CFTC Approves Order to Further Strengthen U.S. Treasury Market Liquidity
April 15, 2026
WASHINGTON — The Commodity Futures Trading Commission today approved an order to grant a limited exemption necessary for the Chicago Mercantile Exchange Inc. and the Fixed Income Clearing Corporation to make their existing cross-margining arrangement available to certain customers with appropriate safeguards.
The order permits joint clearing members of CME and FICC that are dually registered as broker-dealers with the Securities and Exchange Commission and futures commission merchants with the Commission to hold futures customer funds in a commingled customer account at FICC. Prior to today’s exemptive order, only clearing members could cross-margin futures positions in U.S. Treasury securities cleared at CME with cash market positions in U.S. Treasury securities cleared at FICC.
"Today's joint action supports both the CFTC's and SEC's broader effort to strengthen the resilience and liquidity of the U.S. Treasury market," said Chairman Michael S. Selig. "By enabling more efficient risk management across related products, this proposal moves us closer toward a more modern, robust market structure."
The exemptive order will be available on CFTC.gov and published in the Federal Register. A related SEC exemptive order will be available on SEC.gov and published in the Federal Register.
-CFTC-