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TMPG Releases Best Practice Recommendations on Clearing and Settlement

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 clearing and settlement practices in the secondary market for U.S. Treasury securities. 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 supplementary note on the purpose and breadth of these new best practice recommendations related to clearing and settlement. A proposed draft was published in April. Additionally, the TMPG has published a final version of the white paper on clearing and settlement.

TMPG Releases Best Practice Recommendations on Clearing and Settlement pdf July 11, 2019

Best Practices for Clearing and Settlement in the Secondary Market for U.S. Treasury Securities pdf July 11, 2019

Best Practices for Treasury, Agency Debt and Agency Mortgage Backed Securities Markets pdf July 11, 2019

White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities pdf July 11, 2019

TMPG Seeks Comment on Proposed Best Practice Recommendations on Clearing and Settlement

The Treasury Market Practices Group (TMPG) is proposing updates to its Best Practices for Treasury, Agency Debt and Agency Mortgage-Backed Securities Markets to incorporate recommendations supporting efficient clearing and settlement in these markets. The proposed best practice recommendations address several risk and resiliency issues identified by TMPG members in the consultative White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities published in July 2018.

TMPG Seeks Comment on Proposed Best Practice Recommendations on Clearing and Settlement pdf April 18, 2019

Treasury Market Practices Group Proposed Practice Guidance on Clearing and Settlement pdf April 18, 2019

TMPG Conducts Outreach Following Clearing and Settlement Consultative White Paper Publication

Following the publication of the consultative White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities, the TMPG conducted outreach with a wide range of industry groups and participants.

TMPG Outreach on Clearing and Settlement pdf December 4, 2018

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 pdf July 12, 2018

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

Trade Flow Mapping pdf July 12, 2018


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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