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FICC Sponsored Repo
Northern Trust sponsors your trading to the Fixed Income Clearing Corporation (FICC) enabling you access to one of the world’s deepest sources of US​ fixed income liquidity.


Principally trade US Dollar cash versus US Treasuries repo and reverse repo with Northern Trust as your sponsor to FICC

*Banks and Dealers who are approved GSD Netting Members

Why Consider Sponsored Repo?

Improved Counterparty Risk

Realize counterparty strength and diversification by trading with the FICC

Deeper Liquidity Pools

Access a deeper liquidity pool (the FICC marketplace) compared to traditional bilateral markets

Greater Liquidity Stability

Dealers realize balance sheet and capital relief through FICC trading, translating into more stable liquidity for you

Operational Efficiencies

Acting as your processing agent, we manage the full trading event lifecycle of your FICC trades

Enhanced Diversification

Complement your suite of liquidity solutions tailored to your investment strategy and operations

Access To FICC Benefits

Realize the full benefits of FICC membership without full membership obligations and costs

Northern Trust’s program is currently authorized for US Treasuries as eligible securities and clients domiciled in the United States and Cayman who meet the criteria as a Qualified Institutional Buyer (QIB) under SEC Rule 144a. Northern Trust may expand to more jurisdictions, additional security types and to term Sponsored Repo subject to internal review and client demand.


Insights & Research

In December 2023, the SEC adopted a new rule to mandate central clearing for certain US Treasury transactions. This new rule, which applies to most counterparties, includes certain secondary and repo trades.

FICC Sponsored Repo offers an efficient liquidity solution for institutional investors.


Securities Finance Leaders

Ryan Barrett

Ryan Barrett is Senior Vice President and Head of Securities Finance, North America at Northern Trust in Chicago.


Contact Us

Want to learn more? Contact us to speak with one of our experts.

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