Saphyre collaborates with DTCC's FICC to Streamline Onboarding and Accelerate Firm Readiness for US Treasury Clearing Mandate
Collaboration will link Saphyre to FICC's Onboarding Hub, streamlining FICC Sponsored agreement workflows, automating entity data reconciliation, and significantly reducing manual processing across buy- and sell-side firms.
NEW YORK, March 5, 2026 /PRNewswire/ -- Saphyre, Inc., a leading pre-trade-through-post-trade platform providing faster trade-readiness and settlement cycles for the world's largest financial institutions, today announced plans to collaborate with the Fixed Income Clearing Corporation (FICC), a subsidiary of The Depository Trust & Clearing Corporation (DTCC). With this collaboration, Saphyre will link its account onboarding, maintenance, and legal amendment/negotiation services to FICC's Onboarding Hub, advancing a streamlined onboarding process, increased document workflow capabilities and more to clients who leverage the Saphyre platform.
The system integration is designed to help buy-side and sell-side firms that leverage Saphyre to prepare for and comply with the expanded U.S. Treasury clearing mandate, which requires that the majority of U.S. Treasury market transactions be centrally cleared, with compliance for cash transactions by December 31, 2026, and repo transactions by June 30, 2027. Firms leveraging Saphyre's system integration with FICC's Onboarding Hub can reach out to their Saphyre representative to be included in the rollout schedule.
Through direct API connectivity, the planned integration will enable clearing brokers to transmit validated client, trading account, and legal documentation to FICC in a scalable, structured manner. Buy-side entity and fund data will also be automatically reconciled within the platform. This reduces manual intervention, operational risk and downstream exceptions while accelerating time-to-trade.
As U.S. Treasury market participants navigate expanded central clearing requirements, firms face significant operational complexity, from repapering legacy agreements and establishing FICC Sponsored member structures to ensuring accurate, timely data submission to FICC for central clearing. Once live, Saphyre's system integration will provide their clients with a digital bridge between fund onboarding, legal agreement management, and FICC submission, helping streamline the end-to-end onboarding workflow.
"The Treasury clearing mandate is fundamentally about clearing readiness at scale," said Gabino Roche, CEO & Founder of Saphyre. "By announcing our planned system integration with FICC today, we're giving firms visibility into how we intend to align legal agreements, onboarding workflows, and clearing submission into a single coordinated process. The approach is designed to reduce operational risk and give firms greater confidence as clearing volumes expand."
"As the Treasury Clearing mandate approaches, market participants must ensure they are ready to onboard," said Laura Klimpel, Managing Director and Head of DTCC's Fixed Income and Financing Solutions. "By working with firms like Saphyre, we aim to help their clients streamline and accelerate onboarding, reduce operational friction, and prepare for the mandate at scale. It's another example of how FICC continues to advance innovative solutions and collaborations to drive new efficiencies for our mutual clients and promote a smoother, more coordinated rollout of central clearing across the ecosystem."
By centralizing legal, operational, and reference data within a single workflow, Saphyre helps their clients meet regulatory deadlines while improving data quality and reducing downstream exceptions. The integration reinforces Saphyre's broader mission to modernize post-trade and onboarding infrastructure across capital markets, providing firms with a scalable foundation as regulatory requirements continue to evolve.
About Saphyre, Inc.
Saphyre leverages patented AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians, and much more. Saphyre's platform maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry. This allows firms not only to assess risk faster but they can speed their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate 70%-75% of redundant or inefficient post-trade activities.
About DTCC
With over 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes, bringing enhanced resilience and soundness to existing financial markets while advancing the digital asset ecosystem. In 2024, DTCC's subsidiaries processed securities transactions valued at U.S. $3.7 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $99 trillion. DTCC's Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 25 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, X, YouTube, Facebook and Instagram.
About FICC:
DTCC's subsidiary, Fixed Income Clearing Corporation (FICC), was created in 2003 to reduce costs and give DTCC customers a common approach to fixed income transaction processing by integrating the Government Securities Clearing Corporation and the Mortgage-Backed Securities Clearing Corporation. The Government Securities Division (GSD) of the Fixed Income Clearing Corporation (FICC), a subsidiary of DTCC, provides real-time trade matching, clearing, risk management and netting for trades in US Government debt issues, including repurchase agreements or repos. Securities transactions processed by FICC's Government Securities Division include Treasury bills, bonds, notes, zero-coupon securities, government agency securities and inflation-indexed securities.
The smooth and uninterrupted functioning of the Treasury market, the largest and most liquid sovereign debt market in the world, is critically important to the strength of the entire U.S. economy. For almost four decades, DTCC has set the standard in U.S. Treasury clearing – driving innovation, cost savings, and safety to the industry. With FICC safeguarding one of the world's largest financial markets and unlocking capital and liquidity for our members, we deliver stability and efficiency where it matters most. For both the buy-side and the sell side, central clearing Treasury activity via FICC reduces risk, enhances resiliency and transparency, alleviates capital constraints, enhances liquidity, and lowers net settlement exposures. FICC's role in this market is to ensure the efficient clearing and guaranteed settlement of U.S. government securities. In 2024, we processed the equivalent of over $2.6 quadrillion in transactions.
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