The Clearing Corporation (TCC, former CCorp) is "a Delaware corporation owned by 17 stockholders (which include banks
Goldman Sachs
The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...
,
Deutsche Bank
Deutsche Bank AG (, ) is a Germany, German multinational Investment banking, investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange.
...
and
Morgan Stanley
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...
, as well as inter-dealer brokers
ICAP and GFI Group and German derivatives exchange
Eurex), many of whom represent the world-wide derivatives
marketplace
A marketplace, market place, or just market, is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods. In different parts of the world, a marketplace may be described as a ''souk'' (from ...
participants and market makers."
In 2008, the Clearing Corporation and the
Depository Trust & Clearing Corporation
The Depository Trust & Clearing Corporation (DTCC) is an American financial market infrastructure company that provides clearing, settlement and trade reporting services to financial market participants. It performs the exchange of securities ...
(DTCC) announced a
credit default swap (CDS) public clearing facility that will be linked to DTCC's
Trade Information Warehouse The Trade Information Warehouse is a service offering of the Depository Trust & Clearing Corporation's Deriv/SERV, and is described by DTCC as "a centralized and secure global infrastructure for processing over-the-counter (OTC) derivatives over th ...
. On September 29 of 2008, CCorp affirmed that the CDS clearing counterparty will launch by year-end.
References
External links
www.theice.com/clearing-corp
Financial services companies of the United States
{{US-company-stub