NYSE Euronext said it had signed a deal with Depository Trust & Clearing Corp (DTCC) to form a joint venture for clearing U.S. fixed income derivatives.

The new clearing house, New York Portfolio Clearing, will combine the NYSE Euronext's U.S. futures exchange and DTCC's Fixed Income Clearing Corp to offer risk management, clearing and settlement efficiencies for U.S. fixed income securities and derivatives.

NYSE Euronext, the world's top exchange operator by the size of its listings, said it planned to commit a $50 million financial guarantee as an additional contribution to back the NYPC default fund.

The New York Stock Exchange parent company said the joint venture has been approved by both companies and was expected to be operational in the second quarter of 2010.

The company has also named Dennis Dutterer as interim chief executive of the new clearing house. NYSE Euronext's shares closed at $27.08 Wednesday on the New York Stock Exchange.

(Reporting by Chakradhar Adusumilli in Bangalore; Editing by Dan Lalor)

NYSE Euronext