FICC sponsored clearing passes US$750 billion in daily activity, says DTCC 14 June 2023US Reporter: SFT
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The Depository Trust and Clearing Corporation has reported continued growth of its sponsored clearing services through its clearing subsidiary, the Fixed Income Clearing Corporation (FICC), with daily sponsored activity rising to more than US$750 billion.
The New York-based post-trade infrastructure provider flags up the release of its sponsored general collateral service in September 2021 as an important driver in fuelling this expansion, with Sponsored GC now passing US$100 billion in daily notional value.
The current US$750 billion aggregate daily notional represents a new high point since DTCC first introduced its sponsored clearing solutions, first rolled out in 2005 as a sponsored repo service.
Through these sponsored solutions, DTCC has aimed to bring a wider range of market participants into central clearing, including an expanding community of buy-side firms.
Laura Kimpel, FICC general manager at DTCC and head of SIFMU business development, comments: “DTCC is pleased to have reached this impressive milestone in our FICC business. Through use of the Sponsored Service, FICC members have the opportunity to offer their eligible clients the ability to lend cash or eligible collateral through clearing at FICC.”
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