Fixed Income Clearing - Government Securities Division

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The Government Securities Division (GSD) of Fixed Income Clearing Corporation (FICC) is the leading provider of trade comparison, netting and settlement for the Government securities marketplace. FICC was established in 1986 to provide automated comparison and settlement services, risk-management benefits and operational efficiencies to the Government securities industry. GSD clients include the nation's major brokers and dealers, as well as a wide range of entities that trade U.S. Government securities.

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Client Support – 1.888.382.2721
Operations Hotline - 1.212.855.7600

Products and Services

CCIT Service™

 

The CCIT Service extends CCP services and guarantee of completion of eligible trades to tri-party repo transactions between GSD dealer members and eligible tri-party money lenders.

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Sponsored Membership

 

Sponsored Membership at GSD offers eligible clients the ability to lend cash or eligible collateral via FICC-cleared DVP repo throughout the day.

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GCF Repo®

 

The GCF Repo® service enables dealers to trade general collateral repos, based on rate, term, and underlying product, throughout the day without requiring intra-day, trade-for-trade settlement on a Delivery-versus-Payment (DVP) basis.

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Real-Time Trade Matching

 

Real-Time Trade Matching (RTTM®) enables dealers, brokers and other market participants to automate the processing of fixed income securities trades throughout the trading day.

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Netting and Settlement Services

 

The Netting and Settlement service of GSD provides centralized, automated clearance and guaranteed settlement of eligible U.S. Treasury bills, notes, bonds, strips and book-entry non-mortgage-backed agency securities.

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Repo Services

 

GSD matches and nets Repo Transactions as part of its netting process for other government securities trading activity, including all buy/sell transactions and auction purchases.

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Repo Collateral Substitution

 

GSD's repo services include an automated facility that supports the Substitution of Repo Collateral. 

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Auction Takedown

 

The Auction Takedown service reduces settlement risk and costs for participants in GSD that purchase securities through the U.S. Treasury Department’s auction programs.

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Automated Funds-Only Settlement Service

 

FICC's Automated Funds-Only Settlement Service provides a standardized, automated method for settling non-trade, funds-only obligations each day between FICC and its customers' settling banks.

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