Goldman and Federated first to clear MMF repo trades

Money funds cleared over $10 billion of US Treasury repo trades at FICC in June and July

Photo of trolley with dollars

Goldman Sachs Asset Management and Federated Investors have become the first money market fund managers to clear their US Treasury repo trades at the Fixed Income Clearing Corporation, a subsidiary of the Depository Trust & Clearing Corporation.  

The transactions were cleared via FICC’s revamped sponsored repo service, which received regulatory approval on May 2, with Bank of New York Mellon acting as the sponsoring member.       

GSAM and Federated cleared a total of 14 trades in June and

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