U.S. Treasury Clearing: Are You Ready?

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Quickly understand whether your cash and repo activity falls in scope under upcoming U.S. Treasury clearing rules - and identify any gaps you may need to address.

Our survey, developed by the Tonic team, helps firms swiftly determine whether their cash and repo transactions may fall within scope, identify relevant entity classifications, and spotlight any exemptions or gaps you should review.

  1. Takes only a few minutes
  2. Covers both cash and repo transactions
  3. Offers clear, actionable direction - no fluff
  4. Results are indicative (not a legal opinion), but give you a strong starting point
Start Your UST Readisness Check

Tonic U.S. Treasury Clearing Services

How Tonic helps

We support firms as they prepare for UST clearing - from education, through strategy development, to mobilisation and communications.

On top of that, Tonic continues to provide an expertise-led suite of Transform, Implement, and Augment services, as our clients’ needs arise.

Tonic U.S. Treasury Health Check

Our customizable Health Check service acts as a backbone for successful preparation - not only for UST Clearing, but for any major program or regulatory change.

Did you know that ~75% of projects fail due to insufficient discovery and upfront validation of the target vision and operating model?

That’s exactly why the Tonic Health Check is your ideal UST Clearing kickstarter - designed to accelerate the right strategy, solution decisions, and program mobilization.

Leveraging our deep domain and transformation expertise, we deliver:

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Tune into TonicBoom! for expert takes on U.S. Treasury clearing - from rule changes to access models and documentation. Clear, relevant insight to keep you ahead.

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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



Episode 5 | Documentation Considerations for the US Treasury Clearing Rules: Hosted by Philip Forkan Head of Collateral at Tonic and D2LT’s Emma Wooldridge and Sydney Hassal, breaks down the SEC’s extended clearing deadlines — Dec 2026 (cash) and Jun 2027 (repo). While timelines have eased, firms trading in-scope US Treasuries still face major change as they await new CCP models and related documentation.

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