Fed switches MBS purchases to proprietary platform
New York Fed will next week start winding down its use of TradeWeb
The Federal Reserve Bank of New York will start using its proprietary trading platform, FedTrade, to make monthly purchases of mortgage-backed securities (MBSs) on behalf of the Federal Open Market Committee (FOMC), also known as quantitative easing (QE), from April 9, the bank said yesterday in a statement.
The New York Fed Open Market Desk, which is responsible for implementing FOMC decisions, already uses the FedTrade platform to conduct Treasury operations, repurchase and reverse repurchase
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