The Clearing Corporation (TCC, former CCorp) is "a Delaware corporation owned by 17 stockholders (which include banks Goldman Sachs, Deutsche Bank and Morgan Stanley, as well as inter-dealer brokers ICAP and GFI Group and German derivatives exchange Eurex), many of whom represent the world-wide derivatives marketplace participants and market makers."
In 2008, the Clearing Corporation and the Depository Trust & Clearing Corporation (DTCC) announced a credit default swap (CDS) public clearing facility that will be linked to DTCC's Trade Information Warehouse. On September 29 of 2008, CCorp affirmed that the CDS clearing counterparty will launch by year-end.
Famous quotes containing the words clearing and/or corporation:
“He had a whole heaven and horizon to himself, and the sun seemed to be journeying over his clearing only the livelong day.”
—Henry David Thoreau (1817–1862)
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I’ll resort to headlines and force the people into this fight.”
—William Howard Taft (1857–1930)