The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly issued a request for public comment to further coordinate the regulatory framework for portfolio margining of securities, security-based swaps, futures, and related products, with the aim of improving risk management efficiency, reducing market fragmentation, and strengthening investor protection. The request for comment covers topics such as cross-product margin offsets, customer protection, collateral management, risk models, clearing mechanisms, and market liquidity. The public comment period will be 60 days after publication in the Federal Register.

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