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UST Clearing Services

Impact AreasResource HubHealth CheckTonic ServicesTonicBoom!

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The SEC’s recently approved UST Clearing Rules (USTC) represent transformational change for one of the largest and most crucial markets in the world.  

The regulation has major impacts across a broad range of firms engaging in UST Cash Trades and UST Repurchase Agreements.  The goals of the mandate are to reduce counterparty risk, enhance operational risk management, and strengthen the overall resilience of the US Treasury Market.

Both buy-side and sell-side firms will need to undergo current state assessment, target operating model design and implementation to achieve compliance and/or increased volumes in the UST Clearing space, with significant front-to-back change expected for many firms.

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Prepare your organization now to effectively navigate the upcoming regulatory changes. ‍‍

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UST Clearing Impact Areas

UST Clearing brings key impact areas that will affect a broad range of firms. Below is a subset of the major impact areas for firms to consider as they start their compliance journey.

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KIA

Tonic UST Clearing - Resource Hub

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Part 1 - UST Clearing Kickstarter

Tonic's specialists have focused on breaking down the U.S. Treasury Clearing regulatory scope, progam life cycle, CCP membership types and access models

 Our UST Clearing Kickstarter provides high-value materials to kickstart the understanding of firms who are less familiar with the UST clearing model.

Tonic's UST Clearing Kickstarter will cover high-value information on:

Unlock Part 1

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Part 2 - Access Model Deep Dive

Tonic will provide a summary of each Access Model with Pros and Cons, a workflow diagram, and closing comments.

In the second Tonic release of UST clearing detailed content, we will focus on the access models currently, or soon to be, available to firms.  With each access model, we will provide a summary of the model, a simple diagram to show the workflow, pros and cons, and some closing comments.

Unlock Part 2
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Tonic UST Clearing Health Check

For major transformational programs such as UST Clearing, our Tonic Health Check is a high-value tool to kickstart your firm’s compliance and the right solution decisions.

Tonic’s UST Clearing Health Check leverages our deep domain and transformation expertise to deliver a high-quality set of outputs to our clients, including:  

  1. High-quality UST Clearing education
  2. Targeted scope impact assessment
  3. Tailored recommendations, covering both market solutions and program approach

Let Tonic guide you through your UST Clearing transformation with confidence and precision - click the get in touch button below and one of our experts will reach out to you.

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Tonic UST Clearing Services

Tonic provides a family of expertise-led U.S Treasury Clearing services to help in-scope firms accelerate and protect their compliance and transformation goals.

We leverage our deep domain and transformation expertise, including our successful track record across major regulatory programs for dealer banks, custodians and the buy-side, to ensure that our clients execute their critical compliance, resilience and commercial goals.

At Tonic we provide a series of advisory and transformation service modules, across the end-to-end transformation lifecycle, which we then customize to our clients’ bespoke needs.

See a visual summary of our expertise-led UST Clearing Tonic services below.

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Check Out The UST Clearing Podcast Series on Tonic Boom!

Tonic Boom! delivers valuable insights on high-impact topics. Our first two episodes are part of an exclusive UST Clearing infoshare series.

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Episode 1 | UST Clearing - Kickstarter: This episode focused on setting the scene for the monumental regulatory initiative set to transform the market over the coming years. The first in a series of episodes on the topic, Chris Watts (host and Tonic CEO) and Phil Cook (Head of Post-Trade at Tonic) focus on the foundations of USTC, joined by an impressive line-up of industry SMEs, Travis Keltner, Head of Financing at State Street, and Jeff Sowell, Head of Financing Product at State Street.



Episode 2 | UST Clearing - Access Models and Industry Insights: A deep dive into the different Access Models that in-scope firms need to choose from and implement. Our Tonic CEO Chris Watts and Head of Post-Trade Phil Cook are joined once more by our friends at State Street, including Jeff Sowell Head of Financing Product and Jordan Cobb Vice President, Secured Financing

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