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:
“Usually the scenery about them is drear and savage enough; and the logger’s camp is as completely in the woods as a fungus at the foot of a pine in a swamp; no outlook but to the sky overhead; no more clearing than is made by cutting down the trees of which it is built, and those which are necessary for fuel.”
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