TMPG Releases Consultative White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities

The Treasury Market Practices Group (TMPG) today released a consultative White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities. The White Paper describes the various clearing and settlement arrangements for U.S. Treasury securities, provides detailed maps that illustrate the process flows, and catalogs potential areas of risk. The TMPG seeks public feedback on the following aspects of the secondary Treasury market: the accuracy and completeness of various clearing and settlement arrangements described, risk and resiliency issues identified, and any other feedback and suggestions.

TMPG Releases Consultative White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities July 12, 2018

White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities July 12, 2018

Trade Flow Mapping July 12, 2018

Treasury Market Practices Group Amends Date for Implementing Updated Fails Charge Practice Recommendation

The Treasury Market Practices Group (TMPG) today amended the date for implementing the updated fails charge trading practices for U.S. Treasury, agency debt and agency mortgage-backed securities (MBS) to July 2, 2018. On April 12, 2018, the TMPG had released updated versions of the U.S. Treasury Securities Fails Charge Trading Practice, Agency Debt and Agency MBS Fails Charge Trading Practice and Frequently Asked Questions that incorporated a floor of 1 per cent per annum in the fails charge calculation with an original implementation date of July 1, 2018.

Treasury Market Practices Group Amends Date for Implementing Updated Fails Charge Practice Recommendation April 23, 2018

U.S. Treasury Securities Fails Charge Trading Practice April 23, 2018

Agency Debt and Agency MBS Fails Charge Trading Practice April 23, 2018

Frequently Asked Questions: TMPG Fails Charges April 23, 2018

Treasury Market Practices Group Updates its Fails Charge Practice Recommendation

The Treasury Market Practices Group (TMPG) today updated the existing fails charge trading practices for U.S. Treasury, agency debt and agency mortgage-backed securities (MBS) by including a floor of 1 per cent per annum to ensure that a minimal charge remains in place, thereby maintaining operational continuity of the practices. The TMPG is releasing updated versions of the U.S. Treasury Securities Fails Charge Trading Practice, Agency Debt and Agency MBS Fails Charge Trading Practice and Frequently Asked Questions that incorporate the floor of 1 per cent per annum in the fails charge calculation.

Treasury Market Practices Group Updates its Fails Charge Practice Recommendation April 12, 2018

U.S. Treasury Securities Fails Charge Trading Practice April 12, 2018

Agency Debt and Agency MBS Fails Charge Trading Practice April 12, 2018

Frequently Asked Questions: TMPG Fails Charges April 12, 2018

TMPG Seeks Public Comment on Proposed Updates to its Fails Charge Practice Recommendation

The Treasury Market Practices Group (TMPG) is proposing a floor to the level of the recommended fails charge for agency debt, agency MBS, and U.S. Treasury securities in order to ensure that a minimal charge remains in place, thereby maintaining operational continuity of the practices. The TMPG welcomes feedback on the proposed modification.

TMPG Seeks Public Comment on Proposed Updates to its Fails Charge Practice Recommendation February 28, 2018

FAQs for Proposed Updates to Fails Charge Practice Recommendation February 28, 2018

TMPG Releases Best Practice Recommendations on Information Handling

The Treasury Market Practices Group (TMPG) today updated the existing Best Practices for Treasury, Agency Debt and Agency Mortgage-Backed Securities Markets by incorporating recommendations related to the appropriate handling and use of confidential information. The TMPG believes that these updates will provide necessary guidance for market participants and promote the integrity and efficiency of TMPG covered markets. The TMPG has also released a set of examples that describe some illustrative situations when the information handling best practices could apply (see here). A consultative draft was published in August.

TMPG Releases Best Practice Recommendations on Information Handling January 22, 2018

Best Practices for Treasury, Agency Debt and Agency Mortgage Backed Securities Markets January 22, 2018

Best Practice Recommendations on Information Handling with Illustrative Examples January 22, 2018