Emerging Markets Clearing Corporation

Also found in: Acronyms.

Emerging Market Clearing Corporation

A clearing corporation that performs clearing services for bonds and other debt securities issued in developing countries. Established in 1998 with expanded clearing services becoming operational in 2002, it is associated with the Depository Trust & Clearing Corporation.

Emerging Markets Clearing Corporation (EMCC)

An industry-owned company that assists in the clearance and netting of emerging market debt products. Founded in 1998, EMCC reduces dealer risk by becoming a counter party to trades in emerging market debt.
References in periodicals archive ?
DTCC completed settlement yesterday without problems and said that all its subsidiaries, including The Depository Trust Company, National Securities Clearing Corporation, Fixed Income Clearing Corporation and the Emerging Markets Clearing Corporation, were expected to operate normally today although with reduced staffing, due to the transportation difficulties in the metropolitan area.
Integration of GSCC, MBSCC & EMCC: At the end of the year, in another significant move that will help reduce costs and improve efficiencies for the industry, the shareholders of the Government Securities Clearing Corporation, MBS Clearing Corporation and the Emerging Markets Clearing Corporation voted to have their organizations become subsidiaries of DTCC, effective Jan.
Access to the Apogean ATS is restricted to those institutions that are members of the Emerging Markets Clearing Corporations (EMCC), and trading is available only on EMCC-eligible securities.

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