• The SEC and CFTC issued a joint request for public comment on harmonization of portfolio margining frameworks.
  • The request aims to assist the agencies in evaluating whether greater coordination or alignment in portfolio margining requirements may improve risk management efficiency, reduce market fragmentation, and enhance customer protections.
  • The public comment period will last 60 days following publication of the request for comment in the Federal Register.
  • The press release announcing the action was numbered 2026-59 and published on June 26, 2026.

Joint Request for Public Comment

The Securities and Exchange Commission and the Commodity Futures Trading Commission issued a joint request for public comment on harmonization of portfolio margining frameworks. The announcement was made in press release number 2026-59, published on June 26, 2026.

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SEC, CFTC Seek Comment on Portfolio Margining Harmonization

The request is intended to assist the agencies in evaluating whether greater coordination or alignment in portfolio margining requirements may improve risk management efficiency, reduce market fragmentation, and enhance customer protections. The public comment period will run for 60 days following publication of the request for comment in the Federal Register.

Topics Covered by the Request

The joint request for comment covers a range of topics, including existing portfolio margining models and practices, customer protection considerations, cross-margining and cross-product offsets, capital, segregation, and collateral treatment, risk management and margin methodologies, clearing agency and derivatives clearing organization considerations, operational and technical implementation issues, and potential impacts on market liquidity and competition.

Statements From Regulators

Paul S. Atkins, who serves as SEC Chairman, commented on the initiative.

“By further harmonizing our frameworks, we can ensure that jurisdictional overlap does not stifle innovation and efficiency.”

Paul S. Atkins, SEC Chairman

Mike Selig, who serves as CFTC Chairman, also weighed in on the joint request.

“Fostering enhanced cooperation between the CFTC and SEC with respect to portfolio margining promises to unleash untapped capital while ensuring a more robust risk management framework and market protections.”

Mike Selig, CFTC Chairman

What Comes Next

  • The public comment period will last 60 days following publication of the request for comment in the Federal Register.
  • The joint request for comment covers existing portfolio margining models and practices, customer protection considerations, cross-margining and cross-product offsets, capital, segregation, and collateral treatment, risk management and margin methodologies, clearing agency and derivatives clearing organization considerations, operational and technical implementation issues, and potential impacts on market liquidity and competition.