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Thursday, July 19, 2012

FSOC Designates Eight ‘Systemically Important’ FMUs

The Financial Stability Oversight Council (FSOC) voted to designate eight financial-market utilities (FMUs) as “systemically important.” The Dodd-Frank Act, among other things, mandates heightened risk-management standards for such designated FMUs that govern operations related to their payment, clearing, and settlement activities.

The eight firms are: The Clearing House Payments Company LLC, CLS Bank International, Chicago Mercantile Exchange Inc., The Depository Trust Company, Fixed Income Clearing Corp., ICE Clear Credit LLC, National Securities Clearing Corp, and The Options Clearing Corp.

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