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Securities Services


DTCC Consulting Services supports clients wanting to improve post-trade
efficiency and prepare for the upcoming U.S. Treasury Clearing rule changes

Industry Themes

The U.S. Treasury Market is the largest and most liquid sovereign debt market in the world, with transactions cleared through DTCC’s Fixed Income Clearing Corporation (FICC) that exceed $8.75 trillion every day. Currently, U.S. Treasury Market activity is split between two disparate clearing processes: bilaterally cleared transactions and centrally cleared transactions via FICC.

DTCC remains committed to supporting the industry and providing solutions that enable compliance with the expanded U.S. Treasury Clearing (USTC) rule. The final rules require a significantly larger portion of the U.S. Treasury cash and repo markets to be centrally cleared by December 31st, 2026, for cash transactions, and June 30th, 2027, for repo transactions.

DTCC Consulting Services supports clients trading U.S. treasuries in assessing scope, impact of ruling changes, Target Operating Model (TOM) design and delivery, as well as implementation and testing by providing solutions that enable compliance with the expanded treasury clearing rule.

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The U.S. Treasury Clearing Mandate Delay

An Update on US Treasury Clearing with David Kirby

Watch Video
The U.S. Treasury Clearing Mandate Delay

The U.S. Treasury Clearing Mandate Delay

Learn More

Service Offerings

Scoping of USTC Impact
Our experts help organizations scope the impact of the complex U.S. Treasury rule changes.

Impact Assessment of USTC
Our experts can help assess how a variety of areas – clearing methods, processes, client experience, etc. – will be impacted.

Target Operating Model (TOM) Design
Following the scoping and impact assessments, our experts can create a strategic blueprint that encapsulates an organization’s future operations, outlining the functional processes for clearing treasuries.

Implementation Project Management
Once a clearing method is chosen, our experts work with organizations to implement the required processes to successfully clear transactions, while staying compliant.

Testing Support
Using rigorous, detailed methods, our experts test all aspects of DTCC solutions to make sure everything is performing correctly and meeting regulatory requirements.

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Case Studies

Project Type: Diagnostic and Design | Client Type: U.S. Broker | Duration: 10 weeks

DTCC Consulting Services was engaged by a U.S. domestic retail broker facing issues around streamlining their controls and processes around core trading activity within the context of T+1 in the U.S. market and ensuring compliance with relevant SEC rule changes.

Global Asset Manager Case Study: ASIC Data Lineage Review

U.S. Broker Case Study: T+1 Readiness Assessment

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Insights

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Resources

The U.S. Treasury Clearing Mandate Delay

The U.S. Treasury Clearing Mandate Delay

Learn More
An Update on US Treasury Clearing with David Kirby

An Update on US Treasury Clearing with David Kirby

Watch Video

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Subscribe Now

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