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NYSE, DTCC Clearing House Gets SEC Nod
The Securities and Exchange Commission has approved the proposed clearing house to be launched by the NYSE Euronext and the Depository Trust & Clearing Corporation.
TheSecurities and Exchange Commissionhas approved the proposed clearing houseto be launched by theNYSE Euronextand theDepository Trust & Clearing Corporation,金融时报》reports. TheNew York Portfolio Clearing(NYPC) will let dealers post margin for Treasury futures and cash equities in a “single pot.”
The new futures and clearinghouse operation will challenge Chicago-basedCME Groupfor business in the U.S. interest-rate futures market. The new venture still requires approval from theCommodity Futures Trading Commission.
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