The decision by US authorities to rubber-stamp a new rule is likely to reduce the cost of clearing US Treasuries and repos at the Depository Trust & Clearing Corp, helping coax non-bank liquidity providers into the firm’s fixed-income clearing house, experts say.
DTCC subsidiary, Fixed Income Clearing Corp, filed the proposal on April 27, and the Securities and Exchange Commission approved it on June 8. The rule aims to move FICC’s government securities division away from a volume-driven fee
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