Reluctantly, CME moves to clear US Treasuries
CME Group will seek regulatory approval to clear US Treasuries, chief executive Terry Duffy said today (March 12), while Intercontinental Exchange is also understood to be edging closer to launching a rival service to compete with the Fixed Income Clearing Corporation.
New rules adopted by the Securities and Exchange Commission (SEC) in December will require most US Treasury transactions to be cleared by the end of 2025. FICC, a subsidiary of the Depository Trust & Clearing Corporation, is
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