Welcome to the Government Securities Division (GSD) section of the Learning Center!DTCC FICC GSD thumbl

The GSD Learning Center is designed as an educational resource to better equip Fixed Income Clearing Corporation's (FICC's) Government Securities Division (GSD) Netting Members and stakeholders with the tools needed to best use GSD's services.

US Government Securities is the largest sector of the fixed income market. The GSD acts as a CCP providing clearance, settlement and risk management services to its’ Netting Members in the U.S. Government Securities market. In addition to Netting Member services, GSD services another category of members known as Comparison-only members. GSD’s comparison services for Comparison-only members, does not include netting or settlement services for their trades. 

Participating members include banks, Inter-Dealer Brokers (IDBs), dealers, Government Securities Issuers, Foreign Persons and Registered Clearing Agencies who meet GSD’s membership requirements.

Currently GSD supports two primary products, Delivery vs. Payment (DVP) and GCF Repo®. GSD processes several types of transactions including buy/sell trades of U.S. Government securities, both dealer to dealer and broker to dealer Repos including overnight, forward-start and term Repo trades, Treasury Auction Takedown trades and GCF Repo transactions.

To learn more about GSD products and services, please select a topic that you would like to learn about from the dropdown menu located to the left of this article. 

 


  • DVP RTTM WFE Participant Reporting User Guide

    This user guide provides information on reports available to external users (participants) of the GS ...
    In RTTM Downloads: 81

  • Forward Mark Calculation for DVP Repos

    This document explains how to calculate Forward Mark on a DVP Repo trade. ...
    In Funds-Only Settlement Downloads: 25

  • CCIT Fact Sheet

    This document speaks to DTCC's subsidiary FICC, extending its' repo clearing capabilities tothe inst ...
    In CCIT Service Downloads: 18

  • DVP RTTM WFE Home Page Reference Guide

    Thise guide provides a quick reference to the home page on the DVP Real-Time Trade Matching applicat ...
    In RTTM Downloads: 229

  • GSD GCF Participant Reporting User Guide

    This guide provide GCF Reporting details to participants. ...
    In RTTM Downloads: 268

  • DVP FOS Dealer View Term Cash Trade - Example

    This example will explain the components of FOS for the DVP Service, identify the calculations invol ...
    In Funds-Only Settlement Downloads: 40

  • DVP FOS Dealer View Overnight Cash Trade - Example

    This example will explain the components of FOS for the DVP Service, identify the calculations invol ...
    In Funds-Only Settlement Downloads: 32

  • DVP FOS Dealer View Overnight Repo Trade - Example

    This example will explain the components of FOS for the DVP Service, identify the calculations invol ...
    In Funds-Only Settlement Downloads: 55

  • DVP FOS Dealer View Term Repo Trade - Example

    This example will explain the components of FOS for the DVP Service, identify the calculations invol ...
    In Funds-Only Settlement Downloads: 49

  • DVP FOS Sponsored Account View Overnight Repo Trade - Example 1

    This example will explain the components of FOS for the DVP Service, identify the calculati ...
    In Funds-Only Settlement Downloads: 29

  • DVP FOS Key Terms FAQs

    This document provides descriptions of key terms associated with the DVP Funds-Only Settlement proce ...
    In FAQs Downloads: 39

  • DVP FOS FAQs

    This document provides answers to a list of frequently asked questions relating to the DVP Funds-Onl ...
    In FAQs Downloads: 46

  • DVP FOS Sponsored Account View Overnight Repo Trade - Example 2

    This example will explain the components of FOS for the DVP Service, identify the calculations invol ...
    In Funds-Only Settlement Downloads: 24

  • Example 5 - Finding cash on deposit details in the FIR

    This document provides a usage scenario outlining how a participating Member would find out their Ca ...
    In Requirements & Components Downloads: 24

  • GCF Repo® Index - One Pager

    This document speaks to the publishing of the DTCC GCF Repo® Index by FICC's GSD. ...
    In GCF Repo Service Downloads: 20

  • Generic GCF Cusip List

    This document shows the GCF Product Types and their corresponding Generic GCF CUSIPs. ...
    In GCF Repo Service Downloads: 67

  • RTTM Web Common Elements

    This reference document provides information on the common elements within FICC's RTTM® Web appl ...
    In RTTM Downloads: 64

  • IM Part Specs Comparison Input Output Appendix F

    This appendix provides additions and modifications to the Interactive Messaging Participant ...
    In Trade Matching Downloads: 121

  • Example 3 - Finding VaR component details in the FIR

    This document provides a usage scenario outlining how a participating Member would find out their Va ...
    In Requirements & Components Downloads: 59

  • Example 1 - Finding Clearing Fund requirement details in the FIR

    This document provides a usage scenario outlining how a participating Member would find out their Cl ...
    In Requirements & Components Downloads: 91

  • GSD Risk Reporting Guide (FIR Reports)

    This training guide is meant to help participating Members understand the reports available to them ...
    In Clearing Fund Downloads: 67

  • IM Part Specs Comparison Input Output Appendix E

    This appendix provides additions and modifications to the Interactive Messaging Participant ...
    In Trade Matching Downloads: 159

  • IM Part Specs Comparison Input Output Appendix B

    This appendix provides additions and modifications to the Interactive Messaging Participant ...
    In Trade Matching Downloads: 124

  • IM Part Specs Comparison Input Output Appendix A

    This appendix provides additions and modifications to the Interactive Messaging Participant Specific ...
    In Trade Matching Downloads: 123

  • Example 4 - Finding Coverage Charge component details in the FIR

    This document provides a usage scenario outlining how a participating Member would find out their Co ...
    In Requirements & Components Downloads: 40

  • Example 2 - Finding Clearing Fund deposit details in the FIR

    This document provides a usage scenario outlining how a participating Member would find out their Cl ...
    In Requirements & Components Downloads: 22

  • Example 6 - Finding Funds-Only Settlement details in the FIR

    This document provides a usage scenario outlining how a participating Member would find out their Fu ...
    In Requirements & Components Downloads: 32

  • IM Part Specs Comparison Input Output Appendix D

    This appendix provides additions and modifications to the Interactive Messaging Participant ...
    In Trade Matching Downloads: 122

  • IM Part Specs Comparison Input Output Appendix C

    This appendix provides additions and modifications to the Interactive Messaging Participant ...
    In Trade Matching Downloads: 144

  • GSD Risk Reporting Guide (RTTM Reports)

    This training guide is meant to help participating members understand the reports available to them ...
    In GSD Risk Management Downloads: 62

  • GCF Repo Billing FAQs

    This document provides a list of frequently asked questions and answers relating to the GCF Repo® ...
    In FAQs Downloads: 34

  • GCF Repo FOS FAQs

    This document provides a answers to a list of frequently asked questions relating to the GCF Funds-O ...
    In FAQs Downloads: 34

  • GCF Repo FOS Key Terms FAQs

    This document provides descriptions of key terms associated with the GCF Funds-Only Settlement proce ...
    In FAQs Downloads: 29

  • GCF FOS Dealer View Term Trade - Example

    This example will explain the components of FOS for the GCF Repo® Service, identify the calculat ...
    In Funds-Only Settlement Downloads: 41

  • GCF FOS Dealer View Overnight Trade - Example

    This example will explain the components of FOS for the GCF Repo® Service, identify the calculat ...
    In Funds-Only Settlement Downloads: 46

  • Broker to Dealer GCF Repo® RTTM Flow Chart

    This document provides a Dealer Member with information relating to the trade matching process of a ...
    In RTTM Downloads: 81

  • DVP RTTM Key Function Pathways

    This document provides participants with the navigational pathways to key functions within the DVP R ...
    In RTTM Downloads: 53

  • GCF RTTM Key Function Pathways

    This document provides participants with the navigational pathways to key functions within the GCF R ...
    In RTTM Downloads: 36

  • Broker to Dealer DVP Repo RTTM Flowcharts

    This document provides a Dealer Member with information relating to the trade matching process of a ...
    In RTTM Downloads: 104

  • Dealer to Dealer DVP Repo RTTM Flowcharts

    This document provides a Dealer Member with information relating to the trade matching process of a ...
    In RTTM Downloads: 80

  • IM Part Specs Comparison Input Output

    This guide provides an overview of interactive messaging for real-time trade comparison along with t ...
    In Trade Matching Downloads: 182

  • Clearing Fund Management (CFM) Quick Reference Guide

    This document provides a quick reference guide to Risk Management's Clearing Fund Management (CFM) a ...
    In Clearing Fund Downloads: 53

  • GSD GCF Participant User Guide

    This user guide provides information (including GCF report details) to participants who utilize FICC ...
    In RTTM Downloads: 271

  • GCF Comparison MRO and Print Image Output Format

    This documents outlines the Comparison MRO output files. ...
    In GSD Technical Docs Downloads: 13

  • GSD Netting MRO formats- End of Day- for 80 byte records (file 1019)

    This document outlines the GSD Netting MRO file formats for RJE transmission systems.  ...
    In GSD Technical Docs Downloads: 19

  • GSD Netting MRO formats- End of Day- for 240 byte records (file 1019)

    This document outlines the GSD Netting MRO file formats for all types of transmission systems. ...
    In GSD Technical Docs Downloads: 14

  • GSD Netting MRO formats- Intraday- for 80 byte records (file 1018)

    This document outlines the GSD Intraday MRO file formats for RJE transmission systems. ...
    In GSD Technical Docs Downloads: 15

  • GSD Netting MRO formats- Intraday- for 240 byte records (file 1018)

    This document outlines the GSD Intraday MRO file formats for all types of transmission systems. ...
    In GSD Technical Docs Downloads: 16

  • DVP RTTM WFE RAC User Guide

    This user guide provides information specific to the Remote Access Coordinators of FICC's RTTM® ...
    In RTTM Downloads: 196

  • GSD Comparison MRO formats for 80 byte records (file 1017)

    This document outlines the GSD Comparison MRO file formats for RJE transmission systems. ...
    In GSD Technical Docs Downloads: 13

  • GSD Comparison MRO formats for 240 byte records (file 1017)

    This document outlines the GSD Comparison MRO file formats for all transmission systems. ...
    In GSD Technical Docs Downloads: 16

  • GCF RTTM WFE RAC User Guide

    This user guide provides information specific to the Remote Access Coordinators of FICC's RTTM® ...
    In RTTM Downloads: 180

  • DVP RTTM WFE User Guide

    This user guide provides information to participants who utilize FICC's DVP RTTM® Web applicatio ...
    In RTTM Downloads: 230

  • RTTM Web Quick Reference Guide

    This quick reference guide provides information specific to participants who use FICC's RTTM® We ...
    In RTTM Downloads: 39

  • RTTM Web Quick Reference Guide

    This quick reference guide provides information specific to participants who use FICC's RTTM® We ...
    In RTTM Downloads: 36


This simulation is designed to help you navigate through the process of accessing reports in Report Center. 

Category: DVP Service
Views: 25

This simulation is designed to help you navigate through the process of affirming a DVP Trade as a Dealer or a...

Category: DVP Service
Views: 21

This simulation is designed to help you navigate through the process of entering a DVP Repo or Reverse Repo Trade...

Category: DVP Service
Views: 20

This simulation is designed to help you navigate through the Dealer Login Home Page. 

Category: GCF Repo Service
Views: 16

Category: DVP Service
Views: 18

Category: DVP Service
Views: 12

Category: DVP Service
Views: 17

Category: GCF Repo Service
Views: 16

If you are interested in learning more about membership to DTCC or any of its' subsidiaries (FICC or NSCC for...

Category: Government Securities Division (GSD)
Views: 122

If you are interested in learning more about FICC's GSD Netting Member benefits, check out this video.

Category: Government Securities Division (GSD)
Views: 22

If you are interested in learning more about FICC's GSD services or have plans to apply for membership, check out this...

Category: Government Securities Division (GSD)
Views: 25

Category: GSD Risk Management
Views: 24

Category: GSD Risk Management
Views: 10

Category: GSD Risk Management
Views: 9

This video provides and overview of the Clearing Fund Components which are apart of GSD's Risk...

Category: GSD Risk Management
Views: 10

Category: GSD Risk Management
Views: 28

Category: GSD Risk Management
Views: 13

Category: GSD Risk Management
Views: 6

This video presentation explains the loss allocation methodology for the Government Securities Division (GSD).

Category: GSD Risk Management
Views: 39

This simulation is designed to help you navigate through the process of disaffirming a pending affirm GCF...

Category: GCF Repo Service
Views: 18

This simulation is designed to help you navigate through the process of modifying a GCF Repo® Trade as a Dealer.

Category: GCF Repo Service
Views: 13

This simulation is designed to help you navigate through the process of searching for a GCF Repo® Trade as a...

Category: GCF Repo Service
Views: 15

This simulation is designed to help you navigate through the process of canceling an affirmed GCF Repo® Trade as...

Category: GCF Repo Service
Views: 11

This simulation is designed to help you navigate through the Dealer View Overall Position Monitor screen.

Category: GCF Repo Service
Views: 17

This simulation is designed to help you navigate through the Broker View Overall Position Monitor screen.

Category: GCF Repo Service
Views: 19

This simulation is designed to help you navigate through the process of modifying a GCF Repo® Trade as a Broker.

Category: GCF Repo Service
Views: 12

This simulation is designed to help you navigate through the process of searching for a GCF Repo® Trade as a...

Category: GCF Repo Service
Views: 10

This simulation is designed to help you navigate through the process of entering a GCF Repo® Trade as a Broker.

Category: GCF Repo Service
Views: 34

This simulation is designed to help you navigate through the process of canceling a GCF Repo® Trade as a...

Category: GCF Repo Service
Views: 10

This simulation is designed to help you navigate through the Broker Login Home Page. 

Category: GCF Repo Service
Views: 9

This simulation is designed to help you navigate through the process of affirming a GCF Repo® Trade as a...

Category: GCF Repo Service
Views: 20

This simulation is designed to help you navigate through the Login Home Page. 

Category: DVP Service
Views: 14

This simulation is designed to help you navigate through the the Obligations Query screen.

Category: DVP Service
Views: 16

This simulation is designed to help you navigate through the process of searching for a DVP Repo Substitution as...

Category: DVP Service
Views: 29

This simulation is designed to help you navigate through the Advisories Split-View Query screen. 

Category: DVP Service
Views: 12

This simulation is designed to help you navigate through the process of searching for a DVP Trade. 

Category: DVP Service
Views: 7

This simulation is designed to help you navigate through the process of modifying a DVP Repo Trade as a...

Category: DVP Service
Views: 9

This simulation is designed to help you navigate through the process of modifying a DVP Cash (Buy / Sell) Trade...

Category: DVP Service
Views: 10

This simulation is designed to help you navigate through the process of entering a multiple allocation DVP Repo...

Category: DVP Service
Views: 16

This simulation is designed to help you navigate through the process of entering a single allocation DVP Repo...

Category: DVP Service
Views: 12

This simulation is designed to help you navigate through the process of entering a DVP Repo or Reverse Repo Trade...

Category: DVP Service
Views: 15

This simulation is designed to help you navigate through the process of entering a when issued DVP Trade as a...

Category: DVP Service
Views: 9

This simulation is designed to help you navigate through the process of entering a DVP Cash (Buy / Sell) Trade as...

Category: DVP Service
Views: 15

This simulation is designed to help you navigate through the process of canceling a DVP Trade as a Dealer or a...

Category: DVP Service
Views: 5

This simulation is designed to help you navigate through the process of saving column sets in the Trade Search Query...

Category: DVP Service
Views: 4

This simulation is designed to help you navigate through the process of saving query searches and column sets in the...

Category: DVP Service
Views: 11

This section provides a central location for all the GSD related FAQs and their answers as found throughout the Government Securities Division (GSD) section of the Learning Center.  To view most of the FAQs in this section you must first be logged in.

 

GCF Repo® Billing FAQs

GCF Repo® FOS FAQs

GCF Repo® FOS Key Terms FAQs

GCF Repo® Risk Management FAQs

General DVP FAQs

 

DVP FOS FAQs 

DVP FOS Key Terms FAQ 

General GSD Risk Management FAQs

FICC Customer Reporting (FIR) FAQs

 

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