ICE Clear Credit has received SEC approval to offer clearing services for U.S. Treasury securities, becoming the first alternative to the incumbent Fixed Income Clearing Corporation (FICC). The service is now live.
A wholly owned subsidiary of Intercontinental Exchange (ICE), the clearing house has expanded its Covered Clearing Agency designation to include U.S. Treasuries. ICE Clear Credit, founded in 2009 to clear corporate and sovereign credit products, says the new service aligns access models, workflows and risk frameworks across cash, repo, futures and swaps.
The Treasury clearing solution supports both “Done-Away” and “Done-With” workflows, giving users flexibility in how trades are routed. The offering is built on ICE’s existing credit clearing technology but operates with its own rulebook, membership, risk framework and financial resources.
The firm expects to be ready for testing and integration for repos in the second half of the year, with go‑live planned for the fourth quarter.
