The Securities Industry and Financial Markets Association (SIFMA) today released the following statement from President and CEO Tim Ryan on today’s issuance of new best practice recommendations related to trading and settlement in the Treasury, agency debt, and agency mortgage-backed securities markets by the Treasury Market Practices Group (TMPG):
“SIFMA welcomes the guidance offered today by the Treasury Market Practices Group. By encompassing the Treasury, agency debt and agency mortgage-backed securities markets, the TMPG’s best practices for trading and settlement now promote well-functioning, liquid markets across the majority of fixed-income securities. SIFMA shares this focus on ensuring disciplined, orderly markets that promote liquidity, and the best practices issued today complement SIFMA’s existing market standards and practices in these markets. We look forward to continuing to coordinate with the TMPG on these important issues in the future.”