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US SEC's Gensler welcomes competition on multiple clearing houses for Treasuries

Posted on AllSides June 5th, 2024
From The Center

June 5 (Reuters) - Gary Gensler, chair of the Securities and Exchange Commission, said on Wednesday he welcomed competition around having multiple clearing houses for U.S. Treasuries, though he said there was no formal filing from potential applicants. Currently, the Fixed Income Clearing Corporation, a subsidiary of trade processor DTCC, is the country's sole clearer of Treasuries. But competition is set to increase after the U.S. Securities and Exchange Commission in December adopted new rules aimed at reducing systemic risk in the U.S. Treasury market by forcing more trades through...

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