The Open Market Trading Desk ]at the Federal Reserve Bank of New York announced it will conduct daily domestic repurchase agreement (repo) and reverse repo operations using the new FedTrade Plus auction platform. This includes daily Standing Repo Facility (SRF) and Overnight Reverse Repo (ON RRP) facility operations.
The introduction of FedTrade Plus was announced in November 2024 and follows extensive testing with counterparties. This announcement does not affect any operational parameters for SRF and ON RRP operations. It also does not affect any other open market operations at this time.