▁se cur ities , ▁including ▁tre as ury ▁se cur ities ▁and ▁mort g age ▁back ed ▁se cur ities ▁ ▁F IC C ▁was ▁created ▁in ▁ 2 0 0 3 ▁to ▁handle ▁fixed ▁income ▁transaction ▁processing , ▁integr ating ▁the ▁Government ▁Sec ur ities ▁Clear ing ▁Corporation ▁and ▁the ▁Mort g age - Back ed ▁Sec ur ities ▁Clear ing ▁Corporation . ▁ ▁The ▁Government ▁Sec ur ities ▁Division ▁( G SD ) ▁provides ▁real - time ▁trade ▁matching ▁( RT TM ), ▁clear ing , ▁risk ▁management , ▁and ▁net ting ▁for ▁tr ades ▁in ▁U . S . ▁government ▁deb t ▁issues , ▁including ▁rep urchase ▁agre ements ▁or ▁repos . ▁ ▁Sec ur ities ▁transactions ▁processed ▁by ▁F IC C ' s ▁Government ▁Sec ur ities ▁Division ▁include ▁Tre as ury ▁b ills , ▁b onds , ▁notes , ▁zero - cou pon ▁se cur ities , ▁government ▁ag ency ▁se cur ities , ▁and ▁infl ation - index ed ▁se cur ities . ▁The ▁Mort g age - Back ed ▁Sec ur ities ▁Division ▁provides ▁real - time ▁autom ated ▁and ▁trade ▁matching , ▁trade ▁confirm ation , ▁risk ▁management , ▁net ting , ▁and ▁electronic ▁pool ▁notification ▁to ▁the ▁mort g age - back ed ▁se cur ities ▁market . ▁Part icip ants ▁in ▁this ▁market ▁include ▁mort g age ▁origin ators , ▁government - sp ons ored ▁enter pr ises , ▁registered ▁bro ker - de al ers , ▁institution al ▁invest ors , ▁invest