SIFMA keen to hear more about opening clearing system to foreigners

09/11/2008 | Bloomberg

Depository Trust & Clearing Corp. plans to encourage the Securities and Exchange Commission to allow foreign broker-dealers to join its Fixed Income Clearing Corp. without using a U.S.-based affiliate. "The Securities Industry and Financial Markets Association is interested in learning more about FICC's proposal and working with its members on the issue," said Rob Toomey, managing director and staff adviser of SIFMA.

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