The Clearing Corporation (TCC, former CCorp) is "a Delaware corporation owned by 17 stockholders (which include banks Goldman Sachs,

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

and

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the f ...

, as well as inter-dealer brokers ICAP and GFI Group and German derivatives exchange

Eurex Eurex Exchange is an international exchange which primarily offers trading in European based derivatives. It is the largest European futures and options market. The products traded on this exchange vary from German and Swiss debt instruments to E ...

), many of whom represent the world-wide derivatives

marketplace A marketplace or market place 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 the Arabic), '' ...

participants and market makers." In 2008, the Clearing Corporation and the

Depository Trust & Clearing Corporation The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets. It performs the exchange of securities on behalf of buyers and seller ...

(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