The Clearing Corporation
| The Clearing Corporation | |
|---|---|
| legal form | Corporation |
| founding | September 3, 1925 |
| Seat | Chicago IL |
| management | Kevin R. McClear |
| Branch | Exchanges |
| Website | www.clearingcorp.com |
The Clearing Corporation (TCC) (formerly known as CCorp and Board of Trade Clearing Corporation / BOTCC ) is an American clearing company headquartered in and since March 6, 2009 a subsidiary of the Intercontinental Exchange .
backgrounds
The company was founded on September 3, 1925 and has provided clearing for futures and options contracts ever since . The company is governed by the laws of the US state of Delaware . The shareholders are 17 different investment banks and market administrators who are particularly active in the futures business.
As a result of the financial crisis from 2007 and after the acquisition by the ICE, TCC moved into the limelight, as an offer to clear credit default swaps is being worked on. Due to the increased counterparty risk , trading in credit default swaps came to a virtual standstill. It is hoped that the introduction of a central clearing house and the central counterparty will eliminate this systemic risk in the future and thus avoid further consequences of this kind.
See also
Individual evidence
- ↑ http://www.clearingcorp.com/press/pressreleases/20090306-ice-process-cds.html ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ Archived copy ( memento of the original dated February 23, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Regulated trading platforms for derivatives trading ( Memento of the original from July 15, 2009 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.
