FICC wants to clean up its FCM and done away repo clearing model, but will it connect with the market?

DTCC’s Fixed Income Clearing Corporation, in a recent rule filing with the US Securities and Exchange Commission (SEC), proposed changes to two clearing models that it hopes will be seen as the CCP’s version of FCM and done away for repo clearing members. But both need a close read and one is different enough from the OTC derivatives clearing model that we have some reservations about adoption.
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