FICC鈥檚 Government Securities Division clears record daily activity
09 September 2024 US
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The Fixed Income Clearing Corporation鈥檚 (FICC鈥檚) Government Securities Division (GSD) has cleared a 鈥渞ecord-setting鈥� US$9.2 trillion in daily activity on 3 September.
According to the Depository Trust & Clearing Corporation (DTCC), the new milestone follows the previous peak volume of US$8.8 trillion in daily activity on 31 July 鈥� a 4.5 per cent increase.
In the past 12 months, GSD's total activity increased 42 per cent year-over-year (YoY).
FICC鈥檚 GSD is a provider of trade comparison, netting and settlement for the government securities marketplace, providing automated comparison and settlement services, risk-management benefits and operational efficiencies to the government securities industry.
In addition to this growth, DTCC reports that on 3 September, GSD鈥檚 Sponsored Service reached a peak volume of US$1.414 trillion in cleared US Treasury activity.
The service has experienced 98 per cent growth YoY, now with 2,500 sponsored members.
The Sponsored Service permits full-service netting members of GSD to participate as sponsoring members, providing access to FICC鈥檚 central clearing services to intermediated sponsored members.
Commenting on the record, Laura Klimpel, managing director and head of DTCC鈥檚 fixed income and financing solutions, says: 鈥淭he continued and persistent volume growth that we are seeing across GSD, as well as across access models, is a testament to the value of central clearing with FICC, including reduced risk and capital and balance sheet relief.
鈥淔ICC鈥檚 GSD has become a crucial component to the smooth functioning of the US Treasury market, a responsibility we take very seriously.
鈥淥ur recent achievements in daily transaction volumes underline FICC鈥檚 strong capacity to accommodate increasing volumes and market volatility, and well positions us to support clients for the US Securities and Exchange Commission鈥檚 new rules for expanded US Treasury Clearing.鈥�
According to the Depository Trust & Clearing Corporation (DTCC), the new milestone follows the previous peak volume of US$8.8 trillion in daily activity on 31 July 鈥� a 4.5 per cent increase.
In the past 12 months, GSD's total activity increased 42 per cent year-over-year (YoY).
FICC鈥檚 GSD is a provider of trade comparison, netting and settlement for the government securities marketplace, providing automated comparison and settlement services, risk-management benefits and operational efficiencies to the government securities industry.
In addition to this growth, DTCC reports that on 3 September, GSD鈥檚 Sponsored Service reached a peak volume of US$1.414 trillion in cleared US Treasury activity.
The service has experienced 98 per cent growth YoY, now with 2,500 sponsored members.
The Sponsored Service permits full-service netting members of GSD to participate as sponsoring members, providing access to FICC鈥檚 central clearing services to intermediated sponsored members.
Commenting on the record, Laura Klimpel, managing director and head of DTCC鈥檚 fixed income and financing solutions, says: 鈥淭he continued and persistent volume growth that we are seeing across GSD, as well as across access models, is a testament to the value of central clearing with FICC, including reduced risk and capital and balance sheet relief.
鈥淔ICC鈥檚 GSD has become a crucial component to the smooth functioning of the US Treasury market, a responsibility we take very seriously.
鈥淥ur recent achievements in daily transaction volumes underline FICC鈥檚 strong capacity to accommodate increasing volumes and market volatility, and well positions us to support clients for the US Securities and Exchange Commission鈥檚 new rules for expanded US Treasury Clearing.鈥�
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