EXCLUSIVE: Saphyre collaborates with FICC on US Treasury clearing mandate
05 March 2026 US
Image: Rafel/stock.adobe.com
Saphyre, a pre-trade-through-post-trade platform, has planned to collaborate with the Fixed Income Clearing Corporation (FICC), a subsidiary of The Depository Trust & Clearing Corporation (DTCC).
Through this collaboration, Saphyre will link its account onboarding, maintenance, and legal amendment/negotiation services to FICC鈥檚 Onboarding Hub, advancing a streamlined onboarding process and increasing document workflow capabilities.
The system integration is designed to help buy side and sell side firms that use Saphyre to prepare for and comply with the expanded US Treasury clearing mandate.
The regulation requires the majority of US Treasury market transactions to be centrally cleared, with compliance for cash transactions taking effect by 31 December 2026, and repo transactions by 30 June 2027.
Gabino Roche, CEO and founder of Saphyre, says: 鈥淭he Treasury clearing mandate is fundamentally about clearing readiness at scale.
鈥淏y announcing our planned system integration with FICC today, we鈥檙e giving firms visibility into how we intend to align legal agreements, onboarding workflows, and clearing submission into a single coordinated process.
鈥淭he approach is designed to reduce operational risk and give firms greater confidence as clearing volumes expand.鈥�
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, the firm says.
Buy side entity and fund data will also be automatically reconciled within the platform, which aims to reduce manual intervention, operational risk, and downstream exceptions while accelerating time-to-trade.
Once live, Saphyre鈥檚 system integration will provide clients with a digital bridge between fund onboarding, legal agreement management, and FICC submission, helping streamline the end-to-end onboarding workflow.
Laura Klimpel, managing director and head of DTCC鈥檚 Fixed Income and Financing Solutions, adds: 鈥淎s the Treasury clearing mandate approaches, market participants must ensure they are ready to onboard.
鈥淏y 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.鈥�
By centralising legal, operational, and reference data within a single workflow, Saphyre says it helps their clients meet regulatory deadlines while improving data quality and reducing downstream exceptions.
The integration reinforces Saphyre鈥檚 broader mission to modernise post-trade and onboarding infrastructure across capital markets, providing firms with a scalable foundation as regulatory requirements continue to evolve.
Through this collaboration, Saphyre will link its account onboarding, maintenance, and legal amendment/negotiation services to FICC鈥檚 Onboarding Hub, advancing a streamlined onboarding process and increasing document workflow capabilities.
The system integration is designed to help buy side and sell side firms that use Saphyre to prepare for and comply with the expanded US Treasury clearing mandate.
The regulation requires the majority of US Treasury market transactions to be centrally cleared, with compliance for cash transactions taking effect by 31 December 2026, and repo transactions by 30 June 2027.
Gabino Roche, CEO and founder of Saphyre, says: 鈥淭he Treasury clearing mandate is fundamentally about clearing readiness at scale.
鈥淏y announcing our planned system integration with FICC today, we鈥檙e giving firms visibility into how we intend to align legal agreements, onboarding workflows, and clearing submission into a single coordinated process.
鈥淭he approach is designed to reduce operational risk and give firms greater confidence as clearing volumes expand.鈥�
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, the firm says.
Buy side entity and fund data will also be automatically reconciled within the platform, which aims to reduce manual intervention, operational risk, and downstream exceptions while accelerating time-to-trade.
Once live, Saphyre鈥檚 system integration will provide clients with a digital bridge between fund onboarding, legal agreement management, and FICC submission, helping streamline the end-to-end onboarding workflow.
Laura Klimpel, managing director and head of DTCC鈥檚 Fixed Income and Financing Solutions, adds: 鈥淎s the Treasury clearing mandate approaches, market participants must ensure they are ready to onboard.
鈥淏y 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.鈥�
By centralising legal, operational, and reference data within a single workflow, Saphyre says it helps their clients meet regulatory deadlines while improving data quality and reducing downstream exceptions.
The integration reinforces Saphyre鈥檚 broader mission to modernise post-trade and onboarding infrastructure across capital markets, providing firms with a scalable foundation as regulatory requirements continue to evolve.
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