DTCC reports 31% growth in FICC clearing volumes
12 March 2024 US
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The Depository Trust & Clearing Corporation (DTCC) has recorded a 31 per cent growth in its Fixed Income Clearing Corporation (FICC) treasury clearing volumes, processing a daily average volume of US$7.019 trillion.
The growth comes at a time when firms are assessing the impact of the US Securities and Exchange Commission’s (SEC’s) new requirements to expand the application of central clearing to certain US Treasury repo and secondary market cash transactions.
Brian Steele, managing director and president of clearing and securities services at DTCC, says: “We are pleased to see the continued increase in clearing activity and expect that trend to continue as we move toward go-live for the expanded treasury clearing requirement.”
FICC’s Sponsored Service has also experienced growth in the last year, increasing 74 per cent to a daily average of US$938 billion.
The number of sponsored members participating in FICC also increased 60 per cent to 2,414 firms.
Laura Klimpel, head of fixed income and financing solutions at DTCC, comments: “The fact that more and more firms are voluntarily choosing to clear their trades through FICC’s Sponsored Service is a testament to the value central clearing delivers to market participants.”
The growth comes at a time when firms are assessing the impact of the US Securities and Exchange Commission’s (SEC’s) new requirements to expand the application of central clearing to certain US Treasury repo and secondary market cash transactions.
Brian Steele, managing director and president of clearing and securities services at DTCC, says: “We are pleased to see the continued increase in clearing activity and expect that trend to continue as we move toward go-live for the expanded treasury clearing requirement.”
FICC’s Sponsored Service has also experienced growth in the last year, increasing 74 per cent to a daily average of US$938 billion.
The number of sponsored members participating in FICC also increased 60 per cent to 2,414 firms.
Laura Klimpel, head of fixed income and financing solutions at DTCC, comments: “The fact that more and more firms are voluntarily choosing to clear their trades through FICC’s Sponsored Service is a testament to the value central clearing delivers to market participants.”
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