NYSE Euronext and the Depository Trust & Clearing Corporation plan to form a joint venture to create a new clearinghouse for US fixed income trading that will go live in the second quarter of 2010. The clearing house, to be known as the New York Portfolio Clearing, represents a challenge to CME Group’s supremacy in US derivatives trading.
The new clearinghouse will combine NYSE Euronext’s US futures exchange, NYSE Liffe US, with the DTCC’s Fixed Income Clearing Corporation (FICC). The...