MFA submitted a letter to the U.S. Securities and Exchange Commission (SEC) supporting the Fixed Income Clearing Corporation’s (FICC) proposed rule change to expand access to cross‑margining in U.S. Treasury markets to customer positions.
MFA recommended targeted improvements to the proposal by:
- Provide transparency regarding margin practices
- Clarify the circumstances and process for suspending or terminating customer cross-margining arrangements
- Promote a viable done-away clearing model to maximize the benefits of cross-margining
