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Tom Wipf and Nate Wuerffel speak at the Canadian Fixed Income Forum Meeting

Overview of the Treasury Market Practices Group
October 3, 2016

Simon Potter speaks at the 2016 Primary Dealers Meeting

The Role of Best Practices in Supporting Market Integrity and Effectiveness
September 7, 2016

TMPG Welcomes FINRA Rule Amendment to Establish Margin Requirements for TBA Market

The Treasury Market Practices Group (TMPG) welcomes the Financial Industry Regulatory Authority’s (FINRA) amendment to Rule 4210 (Margin Requirements) to establish margin requirements for transactions in the To Be Announced (TBA) market.

TMPG Welcomes FINRA Rule Amendment to Establish Margin Requirements for TBA Market pdf
July 13, 2016

TMPG Revises U.S. Treasury and Agency Debt Securities Fails Charge Trading Practices

The Treasury Market Practices Group (TMPG) is announcing a modification to its recommended fails charge trading practice for U.S. Treasury and agency debt securities by changing the manner in which the minimum threshold is applied for fails in these markets. Instead of applying the exemption on a per trade basis, the TMPG recommends aggregation of fails charges between two counterparties for a given calendar month.

TMPG Revises U.S. Treasury and Agency Debt Securities Fails Charge Trading Practices pdf June 29, 2016
U.S. Treasury Securities Fails Charge Trading Practice pdf July 13, 2016
Agency Debt and Agency MBS Fails Charge Trading Practice pdf July 13, 2016
Frequently Asked Questions: TMPG Fails Charges pdf July 13, 2016

TMPG Supports Industry Recommendation to Use Benchmarks Consistent with International Best Practices

The TMPG supports the Risk Management Association (RMA) and the Securities Industry and Financial Markets Association’s (SIFMA) recommendation (available here) to replace the use of the ICAP Fed Funds Open (FFO) as a financial indicator with a rate that is more consistent with international best practice recommendations.

TMPG Supports Industry Recommendation to Use Benchmarks Consistent with International Best Practices pdf May 4, 2016

TMPG Clarifies When Changes to Reference Rate Used for Fails Charge Take Effect

The TMPG is clarifying the TMPG reference rate change protocol that should be used for calculating the charge for U.S. Treasury, agency debt and agency mortgage-backed securities settlement fails following a change in the target federal funds rate.

TMPG Clarifies When Changes to Reference Rate Used for Fails Charge Take Effect pdf February 25, 2016
U.S. Treasury Securities Fails Charge Trading Practice pdf February 25, 2016
Agency Debt and Agency MBS Fails Charge Trading Practice pdf February 25, 2016
Frequently Asked Questions: TMPG Fails Charges pdf February 25, 2016

TMPG Releases Updated Best Practice Guidance to Address the Use of Financial Benchmarks

The TMPG today updated the existing Best Practices for Treasury, Agency Debt and Agency Mortgage Backed Securities Markets by incorporating recommendations to address the use of financial benchmarks in TMPG covered markets. The TMPG believes that these additions will provide guidance to market participants to promote the integrity and efficiency of the TMPG covered markets. The TMPG has also released a final version of its supporting document, Use of Financial Benchmarks in TMPG-Covered Markets: Three Sample Case Studies that helped inform the best practice guidance to address the use of benchmarks.

TMPG Releases Updated Best Practice Guidance to Address the Use of Financial Benchmarks pdf February 24, 2016
Best Practices for Treasury, Agency Debt and Agency Mortgage Backed Securities Markets pdf February 24, 2016
Use of Financial Benchmarks in TMPG-Covered Markets: Three Sample Case Studies pdf February 24, 2016

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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