The Clearing Corporation (TCC, former CCorp) is "a Delaware corporation owned by 17 stockholders (which include banks Goldman Sachs

Goldman Sachs

The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...

, Deutsche Bank

Deutsche Bank

Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...

 and Morgan Stanley

Morgan Stanley

Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....

, as well as inter-dealer brokers ICAP

ICAP (company)

ICAP plc is a UK based voice and electronic dealer broker and provider of post trade risk services, the largest in the world carrying out transactions for financial institutions rather than private individuals...

 and GFI Group and German derivatives exchange Eurex

Eurex

Eurex is one of the world's leading derivatives exchanges, providing European benchmark derivatives featuring open and low-cost electronic access globally...

), many of whom represent the world-wide derivatives marketplace participants and market makers."

In 2008, the Clearing Corporation and the Depository Trust & Clearing Corporation (DTCC) announced a credit default swap (CDS)

Credit default swap

A credit default swap is similar to a traditional insurance policy, in as much as it obliges the seller of the CDS to compensate the buyer in the event of loan default...

 public clearing facility that will be linked to DTCC's Trade Information Warehouse

Trade Information Warehouse

The Trade Information Warehouse is a service offering of the Depository Trust & Clearing Corporation's Deriv/SER, and is described by DTCC as "a centralized and secure global infrastructure for processing over-the-counter derivatives over their life cycle"...

. On September 29 of 2008, CCorp affirmed that the CDS clearing counterparty will launch by year-end.