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NYSE, DTCC Clearing House Gets SEC Nod

The Securities and Exchange Commission has approved the proposed clearing house to be launched by the NYSE Euronext and the Depository Trust & Clearing Corporation.

The Securities and Exchange Commission has approved the proposed clearing houseto be launched by the NYSE Euronext and the Depository Trust & Clearing Corporation, Financial Times reports. The New York Portfolio Clearing (NYPC) will let dealers post margin for Treasury futures and cash equities in a “single pot.”

The new futures and clearinghouse operation will challenge Chicago-based CME Group for business in the U.S. interest-rate futures market. The new venture still requires approval from the Commodity Futures Trading Commission.

Click here for the story from Financial Times.

Click here for additional coverage from The Wall Street Journal.

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