Fixed Income Clearing Corporation (FICC)

FICC, which stands for Fixed Income Clearing Corporation, is a subsidiary of The Depository Trust & Clearing Corporation (DTCC). It serves as a central counterparty for the U.S. fixed income markets.

FICC provides essential clearing, netting, and settlement services to help manage risk and promote efficiency in the trading of government securities and mortgage-backed securities. As part of the wider DTCC infrastructure, it supports the stability and integrity of the financial markets by mitigating systemic risk through its central counterparty role.