Electronic TBA MBS Trading Platform for Lenders

Trade Auction Manager (TAM) enables the bidding and exchange of TBA mortgage-backed securities used by lenders to hedge their open mortgage pipelines. The browser-based software module is accessed within MCTlive! – MCT’s comprehensive capital markets platform. TAM digitizes the historically phone-based process of buying and selling TBAs. This allows lenders to collect and analyze more competitive bids, leading to enhanced execution.

Register for our MCT Industry Webinar on June 6th, 2019 at 10am Pacific to learn more about the features and benefits of TAM!

3+

BPS PICKUP

13%

MORE PRODUCTIVE

44%

FEWER CALLS

Trade Auction Manager: How to Execute a Digital TBA Trade

Lenders engage in pipeline hedging to protect their open mortgage applications from market changes. The most common financial instruments used in the hedging process are to-be-announced mortgage-backed securities (TBAs). Hedge coverage must be optimized on a continuous basis to adjust for changes in the market or pipeline through the selling and buying of these TBAs. TBA trading, particularly with regional broker-dealers, is the last remaining secondary marketing function that relies on telephone communications, which TAM now successfully automates. Contact us today to learn how TAM can save you 3+ BPS on your TBA trades, increase your productivity, and reduce your outbound calls by 44%.

To execute a digital TBA trade, simply submit a TBA request to your approved broker-dealers and then execute the winning bid.

Electronic TBA Trading with TAM

1. Lender Submits a Trade Request – Lenders use TAM to submit a TBA trade request, which is bid on individually or competitively by their approved broker-dealers via browser or API.

2. Lender Executes Winning Bid – Lenders receive individual or competitive bids on their TBA request within the TAM platform, then execute the winning bid with the click of a button. 

3. Data Flows into MCTlive! – Once the trade is executed, data flows immediately into other key MCTlive! modules like Pipeline Coverage or the Trade Blotter.

TAM’s three step process to digitally trade TBAs in a competitive environment is earning lenders extra basis points while increasing the efficiency of their secondary marketing operations. 

Submit & Execute TBA Trades On-the-Go

Following in the footsteps of MCT’s BAM whole loan trading platform, TAM is a revolutionary new platform that allows competitive bidding via cloud-based software. Broker-dealers compete for a higher volume of trade requests via browser or API, while lenders gain in efficiency and profitability thanks to expansion and automation of the competitive bidding process. The digitization of this process allows users to optimize their coverage on-the-go. 

“After a busy day at conference, I found myself with moments left to optimize coverage before market close. A few taps in TAM and I was done! No calls, no computer, no manual calculations – just a quick TBA trade and back to unwinding after a full day.”

Andrew Stringer

Director of Secondary/Capital Markets, First Bank

Trade Auction Manager Features for Lenders

Learn more about TAM below or read more about our award-winning comprehensive capital markets platform MCTlive!

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DIGITAL TBA MBS TRADING

Digital trading moves the process from phone-call to browser. 

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COMPETITIVE BIDDING AUTOMATION

TAM automates the competitive process, leading to enhanced execution.

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PREFILL NECESSARY FORMS & AGREEMENTS

Automation speeds the process with prefilled forms & agreements. 

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BROKER/DEALER API INTEGRATIONS

MCT partners with broker/dealers who use TAM to bid on TBA trades via browser or API.

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COMMON TRADES DATABASE OF RECORD

TAM’s centralized database reduces data entry errors and miscommunication.

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ERROR-FREE AOT EXECUTIONS

AOT executions are automated and feature trade reconciliation functionality. 

Interested in Features for Broker/Dealers?

Trade Auction Manager offers additional features and benefits for broker/dealers. Complete the form below and our team will reach out to discuss how our current broker/dealers are benefiting from TAM. 

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Trade Auction Manager Benefits for Lenders

PAYS FOR ITSELF – Significant Savings Through Increased Competition

IMPROVED PRODUCTIVITY – Increased Trading Process Efficiency

SPEED & CONVENIENCE – Reduced Outbound Phone Calls

REDUCED DATA ENTRY – Reduced Data Logging & Associated Errors


Meet with us to learn more

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