A mosaic of US government securities (Treasury bills, bonds, and notes) combining with mortgage-backed securities under DTCC's fortress, symbolizing FICC's role in settling transactions.

Understanding the Role of Fixed Income Clearing Corporation (FICC) in the U.S. Financial Markets

Finance Policy

Introduction to FICC The Fixed Income Clearing Corporation (FICC) is a crucial subsidiary of the Depository Trust & Clearing Corporation (DTCC), acting as a regulatory clearing agency for fixed-income assets in the U.S. markets. Established in 2003 through the merger between the Government Securities Clearing Corporation (GSCC) and the Mortgage-Backed

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