In remarks at the U.S. Treasury Market Conference, Commodity Futures Trading Commission Chairman Michael S. Selig directed staff to adjust the agency’s rulebook to permit futures commission merchants to engage in cleared repo transactions involving customer funds before the June 2027 Treasury repo clearing deadline. He framed the action within a broader shift toward oversight that accounts for the growing links among Treasury futures, swaps, cash securities and repo markets through better data, integrated surveillance and closer monitoring of leverage and liquidity.
2026-09-22Commodity Futures Trading Commission
Commodity Futures Trading Commission Chairman directs rulebook changes for cleared repo and outlines market modernization agenda
Commodity Futures Trading Commission Chairman Michael S. Selig directed staff to prepare rulebook changes permitting futures commission merchants to conduct cleared repo transactions involving customer funds before the June 2027 Treasury repo clearing deadline. He also called for more integrated oversight of Treasury cash and derivatives markets and continued work on cross-margining and capital treatment. Future policy will address tokenized collateral, stablecoins and product-specific safeguards for any expansion of 24/7 trading.