The Treasury Market Practices Group
The Treasury Market Practices Group (TMPG) is a group of market professionals committed to supporting the integrity and efficiency of the Treasury, agency debt, and agency mortgage-backed securities markets. The TMPG is composed of senior business managers and legal and compliance professionals from a variety of institutions — including securities dealers, banks, buy-side firms, market utilities, foreign central banks, and others — and is sponsored by the Federal Reserve Bank of New York.

Treasury Market Practices Group Reaffirms its Best Practice Recommendation and Updates Frequently Asked Questions on Margining of Agency MBS Transactions

The Treasury Market Practices Group (TMPG) today reaffirmed its longstanding best practice recommendation for two-way margin exchange across the range of forward-settling agency MBS transactions as an effective mitigant for credit and systemic risk. The TMPG also updated the “Frequently Asked Questions: Margining Agency MBS Transactions” in light of amendments to the Financial Industry Regulatory Authority’s Rule 4210 on Margin Requirements related to forward-settling Agency MBS transactions, which became effective on May 22, 2024.

Treasury Market Practices Group Reaffirms its Best Practice Recommendation and Updates Frequently Asked Questions on Margining of Agency MBS Transactions September 25, 2024

Frequently Asked Questions (FAQs): Margining Agency MBS Transactions September 25, 2024

Treasury Market Practices Group Updates its Best Practice Recommendations to Promote Price Transparency

The Treasury Market Practices Group (TMPG) today updated the existing Best Practices for Treasury, Agency Debt, and Agency Mortgage-Backed Securities Markets. This followed the publication of the proposed clarification on price transparency across trading platforms for public comment on December 19, 2023. The update clarifies that all interdealer voice brokers with electronic trading screens should publish all voice trades to those screens when the trade is agreed. All other elements of the TMPG recommended best practices remain unchanged.

Treasury Market Practices Group Updates its Best Practice Recommendations to Promote Price Transparency February 29, 2024

Best Practices for Treasury, Agency Debt and Agency MBS Markets February 29, 2024