What does TCC stand for?

He previously spent 20 years at The Clearing Corporation, progressing from general counsel to president and CEO and member of the Board of Directors.

By acting as CCPs, the clearing corporations step in between the seller and buyer of each trade to assume the counterparty risk and the responsibility to deliver the securities to the buyer and payment to the seller.

CHICAGO -- In light of recent market events and in response to related inquiries regarding the regulation of the credit default swap (CDS) market and the anticipated launch of a central clearing house for CDS transactions, The Clearing Corporation (TCC) today issued the following statement: "The Clearing Corporation is currently in the process of establishing a wholly-owned, limited purpose, New York trust bank that will be regulated by the Federal Reserve Bank of New York and the New York State Banking Department and serve as a central clearing house with respect to CDS transactions.

CHICAGO & SYDNEY, Australia -- The Clearing Corporation (TCC), the world's only independent derivatives clearinghouse, and the new Financial and Energy Exchange (FEX) for Asian-based derivative products located in Sydney Australia, today announced that they have entered into an agreement for TCC to provide clearing and settlement services for derivatives products traded on FEX.

MUMBAI, India & NEW YORK -- The Depository Trust & Clearing Corporation (DTCC) and The Clearing Corporation of India Limited (CCIL) have signed a Memorandum of Understanding (MOU) aimed at promoting closer collaboration between the two market infrastructure organizations.

com, the nation's first online market that lets investors trade innovative financial instruments based on economic events, and The Clearing Corporation ("CCorp") announced today they have entered into a clearing services agreement designed to enable institutions to trade HedgeStreet products in the same way they trade other exchange-traded derivatives.

Business Editors CHICAGO--(BUSINESS WIRE)--April 20, 2004 The Clearing Corporation ("CCorp") today announced that, effective immediately, it will expand the security classes it accepts to satisfy original margin requirements to include Fannie Mae MBSs and Freddie Mac Gold PCs.

About the Clearing Corporation The Clearing Corporation, a stockholder-owned, Delaware corporation now in its 79th year of business, is the only active independent futures clearinghouse in the world.