TCC sailing into shallow waters

Some shareholders in The Clearing Corporation (TCC) are beginning to wonder if the clearinghouse is entering dangerous financial waters, as it continues to await regulatory approval of the clearing link with Eurex Clearing.

Shareholders are awaiting TCC's second quarter earnings report, which some expect to reveal losses of $10m or more.Sources said TCC has been haemorrhaging cash since Chicago Board of Trade (CBoT) moved its clearing to Chicago Mercantile Exchange (CME)'s clearinghouse. In its place, TCC is clearing significantly lower volumes from Eurex...