A division of the U.S. Fixed Income Clearing Corporation (FICC). The GSCC was first established in 1986 to provide clearing and settlement of U.S. government securities. The GSCC handles both new issues and resales of government securities. 

|||The GSCC compares transactions and acts as the counterparty for settlement purposes for each net position. This is an important role, as it maintains the liquidity and integrity of the market for U.S. government securities.