Beginning March 16, 2026, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct its Treasury outright operations using the new FedTrade Plus auction platform. The most recent Treasury outright operations schedule can be found here. Additionally, as fiscal agent of the United States, the New York Fed will conduct Treasury buyback operations using the new FedTrade Plus auction platform, when directed to do so by Treasury. This system transition follows extensive testing by the Desk and with counterparties, including small value exercises conducted in February 2026.
This announcement does not affect any operational parameters for Treasury outright and buyback operations. It also does not affect any other open market operations. The Desk will continue to announce transitions of other domestic operations to FedTrade Plus ahead of planned cutover dates.
