FICC Sets November Onboarding Deadlines for GSD Netting Members

The Fixed Income Clearing Corporation ("FICC") set two November 2026 deadlines for firms that want new accounts live in its Government Securities Division ("GSD") by year-end.

In the Important Notice, the securities clearing agency told GSD Netting Members, along with applicants to become a Netting Member or an Indirect Participant, that the deadlines apply to any firm seeking to be live on or before year-end 2026. That includes firms preparing for the January 2, 2027, compliance deadline for the U.S. Treasury cash clearing mandate. FICC cited the high volume of account onboarding under way and the year-end IT change freeze.

The earlier deadline is November 20, 2026. By then, Sponsoring Members and Agent Clearing Members must complete and submit all paperwork for applications to onboard new Sponsored Members or Executing Firm Customers, as applicable.

The second deadline, November 25, 2026, applies to new accounts. By that date, they must be ready for FICC to activate, including all required connectivity, testing, documentation and credit approvals. The deadline covers new Proprietary Accounts (direct participant accounts) and every type of Indirect Participant Account, including additional accounts of those types. The Indirect Participant Account types are: Sponsoring Member Omnibus Accounts; Sponsored GC Collateral In Lieu Accounts; Agent Clearing Member Omnibus Accounts; Agent Clearing Tri-Party Accounts; and Segregated Indirect Participant Accounts for CME End-User Cross-Margining or otherwise.

FICC directed questions to each firm's FICC Relationship Manager.