Sponsored Service

FICC’s Sponsored Service allows certain Netting Members to sponsor, as Sponsoring Members, eligible legal entities, as Sponsored Members, into FICC/GSD Membership. A Sponsoring Member is permitted to submit to FICC on behalf of its Sponsored Members, transactions in eligible securities for comparison and novation.

Related Content

  • GSD FAQs
    A complete list of frequently asked questions for GSD

Overview

Sponsoring Members facilitate the submission of their Sponsored Members’ trading activity to FICC. For operational and administrative purposes, FICC interacts solely with the relevant Sponsoring Member as processing agent for purposes of the day-to-day satisfaction of its Sponsored Members’ obligations to or from FICC, including their securities and funds-only settlement obligations.

Sponsored Service includes two offerings:

  • Sponsored DVP service – offers eligible clients the ability to lend cash or eligible collateral via FICC-cleared DVP repo transactions in U.S. Treasury and Agency Securities on an overnight and term basis, as well as outright purchases and sales of such securities, to be settled on a Delivery-vs-Payment (DVP) basis, and
  • Sponsored General Collateral (GC) service – offers eligible clients the ability to execute general collateral repo transactions (in the same asset classes currently eligible for Netting Members to transact in via FICC’s existing GCF Repo® Service) with each other and settle such repo transactions on the tri-party repo platform of BNY Mellon.

To learn more about this offering, please visit https://www.dtcc.com/clearing-services/ficc-gov/sponsored-membership

 

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