Digitize and Democratize TBA Trading

Trade Auction Manager (TAM) supports the exchange of TBA mortgage-backed securities used by lenders to hedge their open mortgage pipelines. TAM digitizes the historically phone-based communication process of buying and selling TBAs within a browser-based Request for Quote (RFQ) software system. This may help lenders to more easily collect competitive bids and increase efficiency. Learn more about the features of this robust software below.

MCT Study of Digital RFQ Implementation February 2021

BPS AVERAGE PICKUP ON TRADES

BPS AVERAGE SPREAD ON B/D QUOTES

%

REDUCTION IN TRANSACTIONAL PHONE CALLS

%

INCREASE IN TRADING PRODUCTIVITY

“TAM democratizes the TBA market, leading to increased transparency, access, and efficiency for both lenders and broker-dealers. With TAM, mortgage lenders of all sizes can position themselves for superior execution and are now able to operate with digital trading efficiencies that were once reserved for only the largest, Wall Street supported firms.”
– Curtis Richins, CEO & President of MCT

“TAM democratizes the TBA market, leading to increased transparency, access, and efficiency for both lenders and broker-dealers. With TAM, mortgage lenders of all sizes can position themselves for superior execution and are now able to operate with digital trading efficiencies that were once reserved for only the largest, Wall Street supported firms.”
– Curtis Richins, CEO & President of MCT

“TAM democratizes the TBA market, leading to increased transparency, access, and efficiency for both lenders and broker-dealers. With TAM, mortgage lenders of all sizes can position themselves for superior execution and are now able to operate with digital trading efficiencies that were once reserved for only the largest, Wall Street supported firms.”
– Curtis Richins, CEO & President of MCT

Trading with TAM for Lenders

  1. Request Quotes for TBA Trades
  2. Select & Confirm Winning Quote
  3. Data Flows into Parallel Platforms

TAM’s three-step process for digital TBA trading communication may help improve efficiency while expanding the number of quotes and the network of counterparties. 

 

Potential Benefits for Lenders

  • Better Execution
  • More Efficient Trading Process
  • Increased Security
  • Easier Trade Reconciliation with B/Ds
  • Integrated with Leading Hedge Platforms
  • Insightful reporting of Trading Partners

Exchange TBA MBS Quotes On-the-Go

TAM is a revolutionary new cloud-based platform for the exchange of To-Be Announced Mortgage-Backed Securities. Broker-dealers access quote requests via browser or API, while lenders gain in efficiency and competition. The digitization of this process, combined with mobile access, 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

Learn more about the features of TAM for lenders below.

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DIGITAL TBA MBS COMMUNICATION

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

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COMPETITIVE QUOTES

Instantly request quotes from a wider group of approved counterparties.

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CLOUD-BASED WITH MOBILE ACCESS

Update coverage on-the-go, and leave remote desktop logins behind.

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BROKER-DEALER API INTEGRATIONS

Partnering with broker-dealers who use TAM to bid on TBA trades via browser or API. 

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COMMON COMMITTMENTS DATABASE OF RECORD

TAM’s centralized database reduces supports review and reconciliation. 

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SIMPLIFIED AOT EXECUTIONS

Assignment-of-Trade execution automation for tri-party processes.

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REPORTING SUITE

On-demand color reports for all counterparties.

Interested in Features for Broker-Dealers?

 

Potential Benefits for Broker-Dealers

Trade Auction Manager offers additional features and benefits for broker-dealers.

  • Digital Trade Desk Efficiencies
  • Increased Trade Requests from Approved Counterparties
  • Straight-Through Processing with Leading Trade Order Management Systems
  • Access an RFQ Platform that Steadily Adds New Lenders
  • Insightful Performance and Pricing Color Reports

 

Trading with TAM for Broker-Dealers

  1. Receive Quote Requests for TBA Trades
  2. Submit Quotes via Platform or API
  3. Send Trade Confirmations via Email

Learn About TAM for Broker-Dealers

Trade Auction Manager is licensed from Agile Trading Technologies, a new FinTech firm focused on the MBS market. MCT is currently the only hedge advisory firm licensed to use TAM. For more information, visit trade-agile.com.


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