NYSE Euronext and the Depository Trust & Clearing Corporation (DTCC) will join forces to clear US fixed income derivatives. The new joint venture, a clearing house called New York Portfolio Clearing (NYPC), is expected to begin operations in the second quarter of 2010, subject to regulatory approval.
NYPC is awaiting recognition as a registered derivatives clearing organisation from the US Commodity Futures Trading Commission, as well as consent from other regulatory bodies.
Initially, NYPC will
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