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FINRA Rule 4210 October 25, 2023 Deadline

3/16/23 1:38 PM
FINRA has filed a proposed rule change to Rule 4210 for Covered Agency Transactions, further extending the date of implementation to October 25, 2023.

The new proposed rule change was filed for immediate effectiveness by FINRA:

The Commission has stated that, in accordance with Rule 431(e) of the Commission’s Rules of Practice, the delegated action approving the Proposed Amendments is stayed until the Commission orders otherwise. FINRA believes it is appropriate, in the interest of regulatory clarity pending the stay, to adjust the implementation of the requirements pursuant to SR-FINRA-2015-036. As such, FINRA is proposing to extend the April 24, 2023 implementation date to October 25, 2023.

Click here to read the announcement.

In simpler terms, the amendment to Rule 4210 has been approved, but the SEC has issued a stay until issues are resolved.

So What?

Start looking to get a plan in place to comply with FINRA Rule 4210 as the new deadline approaches. MarginCalculator is the cost-effective, simple solution you are looking for. Now is the time to prepare, not when the stay is lifted. 

About MarginCalculator 

All broker dealers must measure and manage exposure on forward settling transactions. The rules, exceptions and exemptions are complex. Factors involving securities, counterparties, valuation and thresholds require layers of decision analysis. Participants trading in Covered Agency markets need a robust way to compute and validate and record new margin calls, all while ensuring compliance with the new rules and regulations.

MarginCalculator is a web-based, interactive margin workflow platform for daily margining of covered agency transactions. We help you compute and validate margin requirements based on our decision analysis for exemptions and exceptions.

You maintain control with interactive monitors displaying aggregated exposure by counterparty while we inform you when margin is and is not required. We record activity and allow you to send margin call emails directly from the screen. Complying with regulations has never been simpler, thanks to our cost-effective, streamlined margin workflow platform.

Interested in learning more about our MarginCalculator solution that lets you compute, control and comply?

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About Matrix Applications

Matrix Applications is a New York-based fintech service bureau that offers a suite of collateral management, margining and clearing systems for institutional fixed income trading and equities securities lending. We are a team of capital markets and systems professionals delivering financial technology solutions to institutional firms since 2000. We work hands-on with our clients to identify an optimal mix of services to best fit their needs, from systems to back-office operations assistance. With in-house and offshore developers, we provide our clients with the right solution at the right price. Comprised of industry veterans and financial professionals, we leverage our extensive technical experience, a deep network across the finance industry and a team of ops, regulatory and legal gurus to deliver bespoke managed services for firms big and small.

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