The Same-Day Settling Service expands the capabilities of Fixed Income Clearing Corporation’s (“FICC”) Government Securities Division’s (“GSD”) central clearing services, allowing for Members’ eligible and compared Same-Day Settling Trades (inclusive of Brokered Repo Transactions) that are transacted under an Eligible Netting Security to be included in the risk management, novation, guarantee and settlement services of the DVP Service. As these transactions are Same-Day Settling Trades, they will not go through the netting process prior to their original Scheduled Settlement Date.
The Same-Day Settling Service is voluntary for Inter-Dealer Broker Netting Members and for Dealer Netting Members with segregated repo accounts (collectively referred to as “Repo Brokers”) but is mandatory for all other Netting Members and Sponsored Members who execute transactions with Netting Members other than their Sponsoring Member.
In addition to the Same-Day Settling Service, GSD offers an optional Pair-Off Service, whereby GSD systematically pairs off eligible Members’ (excluding Repo Brokers) unsettled Securities Settlement Obligations.
Please refer to the GSD Same-Day Settling Service Documentation section found on this page for more details. Readers must log on to the DTCCLearning.com site in order to access the documentation listed below.
GSD Same-Day Settling Service Documentation
GSD Same-Day Settling Service & Pair-Off Service Overview
GSD Same-Day Settling Service Operational Best Practices Reference Guide