New York Portfolio Clearing (NYPC) - Meaning

A joint venture between The Depository Trust & Clearing Corporation (DTCC) and NYSE Euronext that will allow for ��one-pot�� margining of interest rate futures positions cleared by NYPC with U.S. Treasury and agency securities and repurchase agreements cleared by DTCC��s Fixed Income Clearing Corporation (FICC). NYPC is a Commodity Futures Trading Commission (CFTC)-registered Derivatives Clearing Organisation (DCO). NYPC will be the first derivatives clearing solution to bring together fixed income securities and listed interest rate futures in a single margin calculation, delivering increased capital efficiency, unprecedented market transparency and significant operational efficiencies to the market.