SEC lets Cboe Clear U.S. members count customer binary-option margin in reserve calculations, as they do OCC margin
A conditional exemptive order dated 23 October lets broker-dealers that clear through Cboe Clear U.S. take the Rule 15c3-3a Item 13 debit for customer margin on deposit there, a debit that until now applied only to margin held at OCC. Six conditions apply. The order follows the SEC's temporary registration of the clearer for Cboe's binary KPI options.