FINRA Increases Transparency in the TBA Market for Agency Pass-Through Mortgage-Backed Securities

FINRA announced that it significantly increased transparency in the so-called "To-Be-Announced" (TBA) market for agency pass-through mortgage-backed securities. Through the Trade Reporting and Compliance Engine (TRACE), FINRA has begun disseminating TBA transaction information, including, but not limited to, (i) the CUSIP, (ii) the time of transaction, (iii) the price, and (iv) the size.

In addition to the TBA market, the SEC has approved a FINRA proposal to publicly disseminate transaction information in agency pass-through mortgage-backed securities traded "specified."

Click here to view notice in full (links externally to FINRA website).