The Treasury Market Practices Group
The Treasury Market Practices Group (TMPG) is a group of market professionals committed to supporting the integrity and efficiency of the Treasury, agency debt, and agency mortgage-backed securities markets. The TMPG is composed of senior business managers and legal and compliance professionals from a variety of institutions — including securities dealers, banks, buy-side firms, market utilities, and others — and is sponsored by the Federal Reserve Bank of New York.


TMPG 10th Anniversary Graphic

 RECENT ANNOUNCEMENTS

Treasury Market Practices Group Updates its Best Practice Recommendations to Promote Price Transparency

The Treasury Market Practices Group (TMPG) today updated the existing Best Practices for Treasury, Agency Debt, and Agency Mortgage-Backed Securities Markets. This followed the publication of the proposed clarification on price transparency across trading platforms for public comment on December 19, 2023. The update clarifies that all interdealer voice brokers with electronic trading screens should publish all voice trades to those screens when the trade is agreed. All other elements of the TMPG recommended best practices remain unchanged.

Treasury Market Practices Group Updates its Best Practice Recommendations to Promote Price Transparency pdf February 29, 2024

Best Practices for Treasury, Agency Debt and Agency MBS Markets pdf February 29, 2024

QUICK LINKS
  Best Practices
  Treasury Securities Fails Charge Trading Practice
  Agency Debt and Agency MBS Fails Charge Trading Practice
  FAQ: TMPG Fails Charges
  Operational Plans for Various Contingencies for Treasury Debt Payments
  Synopsis of Recommendations
  Liberty Street Economics Blog Post, TMPG: A Consequential First Decade
  FRBNY Staff Report, TMPG: Creation and Early Initiatives

EXTERNAL LINKS
  U.S. Treasury
  Securities Industry and Financial Markets Association
  The Depository Trust and Clearing Corporation
Treasury Fails Data
GCF Repo Index
  International Swaps and Derivatives Association

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