Fixed Income Clearing Corporation (FICC)
An agency that deals with the confirmation, settlement and delivery of fixed-income assets in the U.S. The agency ensures the systematic and efficient settlement of U.S. Government securities and mortgage-backed security transactions in the market. Investopedia Says:
The FICC started 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: the government securities division and the mortgage-backed securities division. Related Terms:
30-Year Treasury
Clearing Corporation
Fixed-Income Security
Government Securities Clearing Corporation - GSCC
Government Security
Mortgage-Backed Securities - MBS
Treasury Bond |