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Implementation Date for Same-Day Settling Service & Pair-Off Service

January 28, 2021

As mentioned in Important Notice GOV1033-21, the Fixed Income Clearing Corporation’s (“FICC”) Government Securities Division (“GSD”) will implement its Same-Day Settling Service and Pair-Off Service on Monday, February 1, 2021.

  1. On January 19, 2021, the U.S. Securities and Exchange Commission issued an order approving proposed rule change SR-FICC-2020-015 (the “Rule Filing”) and an advance notice filing (SR-FICC-2020-803) (“Advance Notice”, together with the Rule Filing, the “Filings”) to (1) expand FICC’s provision of central counterparty services to include the start leg of certain repurchase agreement (“repo”) transactions, and (2) enable participating FICC members to pair-off and settle certain offsetting obligations, which was filed by Fixed Income Clearing Corporation (“FICC”) pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934, as amended. The approval order is referred to in Important Notice GOV1033-21.
  2. GSD has just published Important Notice GOV1034-21, announcing the implementation date and other details relating to the go live of the Same-Day Settling Service and Pair-Off Service.

About Matrix Applications 

Founded in New York in 2000, Matrix is a fintech service bureau offering a suite of products and services for institutional fixed income trading. We work hands-on with our clients to identify an optimal service mix, from simple position management to high volume settlements. We leverage our extensive technical experience, a deep network across the finance industry and a team of ops, regulatory and legal gurus to deliver bespoke managed services for big-name firms worldwide.

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