The US Treasury Markets Practice Group (TMPG), hosted by the New York Fed, has issued a comprehensive paper on the US Treasury (UST) secondary market. In last week’s “White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities,” the TMPG has worked to get everything important on paper, then open this up to market feedback to ensure everyone is on the same page. We look at the Risk and Resiliency section, which contains some notable items on clearing and Interdealer-brokers (IDBs).
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