Access Central Clearing
Access central clearing through a model designed to align with your firm's business goals, operating structure and Treasury clearing readiness needs.
Access Models
Flexible Pathways to Central Clearing
The U.S. Treasury market plays a critical role in supporting government financing, monetary policy and global liquidity. As Treasury clearing requirements evolve, firms are evaluating how best to access central clearing and prepare for future market changes.
FICC offers flexible direct and indirect access models that help firms participate in central clearing in ways that align with their business, operational and regulatory needs. These pathways expand clearing access, support market capacity and promote efficient risk management across the marketplace.
Delivering Value
Improve Capital Efficiency
Explore participation structures that may support broader balance sheet, collateral and capital management goals.
Reduce Operational Complexity
Select an approach that aligns with your organization's resources, infrastructure requirements and operating model.
Compare Access Models
There is no one-size-fits-all approach to central clearing. As firms evaluate access models, they should consider not only connectivity, but also how different participation options support their trading activity, operational capabilities, financing needs, balance sheet objectives and long-term business goals.
| Access Model | Access Type | Typical Participants | Primary Route |
| Full Netting Membership | Direct | Dealers, banks, eligible institutions | Direct relationship with FICC |
| CCIT Membership | Direct | Triparty cash lenders | Direct limited membership |
| Agent Clearing Service | Indirect | Buy-side and indirect participants | Through a clearing agent |
| Sponsored Service | Indirect |
Eligible buy-side firms See also: Jurisdictions Approved by FICC for Sponsored Members |
Through a sponsoring member |
| Sponsored GC Service | Indirect | Eligible repo participants | Through a sponsoring member |
