FICC Moves into the Home Stretch On the New Central Counterparty

August 17 is the target start date for the industry’s new central counterparty (CCP) for mortgage-backed securities (MBS) being launched by DTCC’s Fixed Income Clearing Corporation (FICC). The new MBS CCP, which will fundamentally change the way business is done in this sector of the industry, will bring guaranteed settlement and heightened risk management to mortgage-backed securities trades.