NYSE Euronext and the Depository Trust & Clearing Corp have finalised plans to develop a new joint venture clearing house, intended to go live in the second quarter of 2010, subject to regulatory approval.
Known as New York Portfolio Clearing, it will offer clearing services for fixed income securities and derivatives.
The idea was unveiled in June but NYSE and DTCC said yesterday (October 13) that they were now in a position to apply for the status of a Designated Clearing Organisation from the Commodity Futures Trading Commission.
The joint venture plans to submit its application...