In less than 10 months, 350 mutual fund companies have signed on to the Fixed Income Clearing Corporation's (FICC) sponsor membership program, granting access $3.5 trillion worth of daily government securities trading.

"This shows how much the funds are eager to take advantage of the benefits of FICC membership. We anticipate that the number of sponsored members will climb, particularly as we ask more sponsors and buy-side firms recognize how useful the program is for their business," said Robert McGrail, president and chief executive of FICC.

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