Fixed Income Clearing Corporation

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Fixed Income Clearing Corporation

A company that matches, nets, and settles trades on fixed-income securities in the United States. Specifically, it provides clearance and settlement services on U.S. Treasury securities (as well as other government securities) and mortgage-backed securities. It was formed in 2003 with the merger of the Government Securities Clearing Corporation and the Mortgage-Backed Securities Clearing Corporation.
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References in periodicals archive ?
FICC also novates the net settlement position and becomes the legal counterparty to both sides of a GCF Repo contract for settlement purposes.
Based in New York, FICC has some USD7bn (EUR5.19bn) in assets under management.
The company offers investment banking, equities, FICC, wealth management services and investment management.
Conversely, the trend line remains negative for FICC revenue, down 4% YoY, with the overall wallet declining 2.1% on a CAGR basis since 1Q12.
During the quarter, FICC Client Execution operated in an environment characterized by low client activity amid low levels of volatility.
The move comes duringAaAeAeA a yearslong effort at Morgan Stanley to increa returns on fixed income, currencies and commodities trading, or FICC,AaAeAe field that has recentlyAaAeAeA seen abysmalAaAeAeA profitsAaAeAeA (http://www.wsj.com/articles/gentlemen-may-prefer-bonds-but-more-traders-take-stocks-14443 throughout Wall Street .
Part of the BMO Fixed Income, Currencies and Commodities (BMO FICC) group, BMO Capital Markets' Foreign Exchange Products group includes a team of nearly 100 professionals operating in 11 cities: London, Toronto, Montreal, Chicago, Milwaukee, New York, San Francisco, Guangzhou, Shanghai, Beijing and Hong Kong.
Overall, Fixed Income Currency and Commodities (FICC) trading revenues were up modestly year over year, after a very strong first-quarter 2017.
Chavez noted a "particularly challenging" commodities backdrop and said that commodities was the single largest driver of the FICC decline.