New York Fed to Debut New Platform for Open Market Operations

The Federal Reserve Bank of New York will replace its existing trading system, FedTrade, with a new trading platform beginning in the coming weeks and continuing into 2025, according to a statement published Wednesday.

• The new platform, called FedTrade Plus, will be implemented across Open Market Operations in phases, beginning with repo and reverse repo operations in early 2025, followed by securities lending, Treasury outright and mortgage-backed securities outright operations
• Mock auctions and small value operations will be conducted before each set of Open Market Operations move over to FedTrade Plus

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