DTCC Approved for Agent Clearing Triparty Service

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, announced it has received approval from the U.S. Securities and Exchange Commission (SEC) to offer the ACS Triparty Service within its existing Fixed Income Clearing Corporation's (FICC's) Agent Clearing Service (ACS) offering. FICC submitted the rule filing with the SEC to offer the ACS Triparty Service in September 2025.

With this approval, FICC can now offer cleared triparty repo capabilities to Agent Clearing Members and their Executing Firm Customers. Specifically, FICC's Agent Clearing Members will be able to submit for clearing eligible triparty repo transactions executed between their Executing Firm Customers and either the Agent Clearing Member itself ("done-with"), or another Government Securities Division (GSD) Netting Member or its client ("done-away"). The ACS Triparty Service will be offered by FICC leveraging BNY's (NYSE: BK), a global financial services company, Global Collateral infrastructure to support both "done-with" and "done-away" cleared triparty repo trades.

The ACS Triparty Service was developed to enable greater access to central clearing as the industry prepares for the SEC's expanded U.S. Treasury clearing rules which take effect in December 2026 for cash and June 2027 for repo transactions. The service will provide unique benefits to Agent Clearing Members, including the potential for enhanced margin efficiency, reduced capital requirements and balance sheet relief.

In addition to the new ACS offering, FICC also announced that its Government Securities Division (GSD) reached a new overall peak volume of $13.2T on December 1, 2025, and on December 31, 2025, reached a new peak volume in buyside activity of $3.1T across its Sponsored and Agent Clearing Services.

Source: DTCC