DTCC – US Treasuries clearing

US Treasuriesclearing: a new era

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FICC’s Klimpel onironing out the kinksin UST clearing

Risk management

Progress to date

What’s next?

What’s next for Treasury clearing? Cleared buy-side tri-party enhancements at DTCC

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Seven developments shaping US Treasury clearing

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FICC’s Klimpel on ironing out the kinks in UST clearing

Risk management

FICC’s new clearing model sparks praise – and intrigue

Risk management

FICC’s new clearing model sparks praise – and intrigue

Risk management

FICC takes record bite from MMF repo investments

Risk Quantum

FICC to launch new default fund beforeUST clearing mandate

Risk management

Clearing house ofthe year: DTCC

Risk Awards 2026

Aiming to improve resilience and transparency, the US Securities and Exchange Commission’s central clearing rule will transform theUS Treasury market. The rule will move more of the $30 trillionUS Treasury market into mandated central clearing, with cash transactions beginning on December 31, 2026, followed by Treasury repo transactions on June 30, 2027. As market participants adapt to these sweeping changes, questions remain around buy-side access, collateral demands, costs, exemptions and central counterparty models. Here, we provide updates and insight from the Fixed Income Clearing Corporation (FICC) – the primary central clearing agency for US Treasury market transactions – alongside Risk.net’s analysis of key developments in this story.

Progress to date

What’s next for Treasury clearing? Cleared buy-side tri-party enhancements at DTCC