The Depository Trust & Clearing Corporation (DTCC) has announced a historic milestone for its Fixed Income Clearing Corporation (FICC) subsidiary. On June 30, 2025, FICC’s Government Securities Division (GSD) cleared a record-breaking volume of $11.8 trillion in transactions, marking the highest daily total since the previous peak of $11.4 trillion on April 9.

This significant jump underscores both the scale and importance of centralized clearing in the U.S. Treasury market, especially amid sustained volatility. FICC’s Sponsored Service—a key feature that allows buy-side firms to access central clearing—also achieved a new daily volume record of $2.48 trillion on June 30, surpassing its previous high of $2.11 trillion from April 30. That same day, the service delivered $1.14 trillion in balance sheet capacity to the financial industry.

FICC Hits New Milestone with $11.8 Trillion Cleared Through GSD

Laura Klimpel, Managing Director and Head of DTCC’s Fixed Income and Financing Solutions, emphasized the importance of these milestones:

“FICC’s long track record of successfully processing persistent volatility in U.S. Treasuries is a testament to our steadfast commitment to risk management and resiliency,” she said. “We are not only protecting one of the world’s largest financial markets by managing volatility and market stress but also enabling significant capital and liquidity efficiencies for our members.”

The achievement highlights the growing role of FICC’s Sponsored Service in meeting market demand for safe, efficient, and scalable clearing solutions, especially as regulatory and liquidity pressures continue to reshape the U.S. Treasury market landscape.

With central clearing becoming an increasingly vital tool in mitigating systemic risk and optimizing balance sheets, FICC’s performance underscores DTCC’s critical role in maintaining stability and efficiency in global financial markets.

As the U.S. Treasury market continues to evolve, FICC’s ability to deliver unmatched clearing volumes and balance sheet efficiencies reinforces its vital role in supporting financial stability, managing systemic risk, and providing meaningful capital benefits to market participants.

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