Fixed Income Clearing Corporation (ficc) Definition | Meaning Of Fixed Income Clearing Corporation (ficc) In Online Law Dictionary

Fixed Income Clearing Corporation (ficc) Definition

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Definition Of Fixed Income Clearing Corporation (ficc):

An agency that deals with theconfirmation, settlement and delivery of fixed-income assets in the U.

The agencyensures thesystematic and efficientsettlement ofU. Government securities and mortgage-backed security transactionsin the market.The FICCstarted operations at the start of 2003 and was created when the Government Securities Clearing Corporation and the Mortgage-Backed Security Clearing Corporation merged. The clearing corporation is divided into two sections: thegovernment securities division and the mortgage-backed securities division.

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