Tag Archives: TBA mortgage-backed securities

Agile Introduces Limit Orders for TBA Mortgage-Backed Securities

PHILADELPHIA, Pa., Oct. 15, 2024 (SEND2PRESS NEWSWIRE) — Agile, a groundbreaking fintech bringing mortgage lenders and broker-dealers onto a single electronic platform, announced today the launch of limit orders, a new quote request type for the To-Be-Announced mortgage-backed securities (TBA) market. Limit orders allow traders on Agile to request a specific price level, rather than conducting an open-ended bid process, giving them greater confidence and freeing precious time, especially during periods of market volatility.

Image caption: Agile Introduces Limit Orders for TBA Mortgage-Backed Securities.

“Limit orders help me get better execution for my clients in a choppy market,” shared Drew Thornhill, Senior Trader at MCT, one of Agile’s hedge advisor clients, who manages coverage on over $450 million in open pipelines on behalf of mortgage lenders. “In my experience, it’s impossible to get the same efficiency and execution over the phone that I can achieve using Agile for limit orders.”

TBAs are broadly used by mortgage lenders to hedge their open pipeline of locked mortgage applications against changes to interest rates during the origination process. Improvements to execution and efficiency in TBA trading can have an outsize impact on mortgage lender profitability. Limit orders allow traders to select a desired price level and time in force, in addition to the typical TBA quote request details. Limit order functionality is also very much welcomed by broker dealers who are given extra time and dynamic communication tools to acquire the level the lender is seeking or share background toward reaching a different agreement.

“Limit orders are very useful on the fringe coupons that are not as liquid, to build up price certainty and prepare for origination activities at the low or high end of the rate range,” said Greg Vacura, president at Agile. “They are also useful on spec deals where lenders need to get more granular pricing on a specific tranche, loan size, or state. Developing limit orders in collaboration with our lender and dealer clients has led to a rewarding win-win.”

Limit orders are now available to all Agile platform users. Mortgage lenders, broker-dealers, or hedge advisors interested in learning more about this new quote request type are encouraged to contact Agile for more information: https://trade-agile.com/contact-us/.

Read the full press release: https://trade-agile.com/limit-orders-tba-mbs/

About Agile:

Agile brings together mortgage lenders and dealers of all sizes onto a single MBS fintech platform. Agile facilitates the exchange of TBA MBS by securing and automating communication between mortgage lenders and broker-dealers. Agile digitizes the historically phone-based process to an electronic platform which may improve profitability and efficiency, while reducing administrative errors. Through its competitive TBA RFQ digital platform, mortgage lenders gain access to national and regional broker-dealers previously inaccessible on digital platforms, while broker-dealers gain access to an ever-growing network of lenders. Based in Philadelphia, Agile Trading Technologies supports a national network of clients* with a team of capital markets professionals who have deep trading experience at financial organizations of every size. Learn more: https://trade-agile.com/.

*Agile is not available for retail natural person investors.

MEDIA CONTACT:
Ian Miller
Chief Marketing Officer
ian.miller@trade-agile.com

IMAGE link for media: https://www.Send2Press.com/300dpi/24-1015-s2p-agilepr-300dpi.jpg

NEWS SOURCE: Agile Trading Technologies

This press release was issued on behalf of the news source (Agile Trading Technologies), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/agile-introduces-limit-orders-for-tba-mortgage-backed-securities/

Agile Introduces Competitive Electronic Bidding on Fourth Month TBA Mortgage-Backed Securities

PHILADELPHIA, Pa. /ScoopCloud/ -- Agile, a groundbreaking fintech bringing mortgage lenders and broker-dealers onto a single electronic platform, announced today the launch of electronic bidding for the fourth month in the To-Be-Announced mortgage-backed securities (TBA) market. This marks a significant leap forward in the trading landscape of off-screen securities.

The addition of electronic bidding for fourth month securities ushers in a new era of efficiency. By offering the option to extend trade settlements an additional month, Agile's electronic platform minimizes the need for frequent rolls, thereby streamlining the process of maintaining an aggregate hedge position.

Andrew Price (*note 1), Secondary Marketing Trader at Highlands Residential Mortgage, stated, "I use fourth month securities to hedge long-term builder forward contracts. Electronically trading fourth month on Agile is extremely efficient, and anytime I put fourth month in competition, my execution is better than a single-dealer bid. It's always helpful to have that extra protection while trading an off-screen security."

This groundbreaking development fosters a deeper understanding of trading dynamics for fourth-month securities, empowering market participants to make more informed decisions regarding their pricing compared to standard TBA security settlements. According to traders using Agile, the reduced frequency of transactions translates directly into increased efficiency and lower hedging costs, as each transaction incurs associated costs.

For builders, securing fourth-month TBAs via Agile offers a distinct competitive advantage. By aligning forward agreement rates with fourth-month security prices, Agile promotes pricing transparency from the inception of contracts, empowering builders to make more informed decisions.

Eric Bridges (*note 2), Vice President of Secondary Marketing at M/I Financial, shared, "Having the ability to bid fourth month competitively has yielded better, more reliable trading levels which provides greater confidence in offering stronger extended rate lock pricing or rate specials."

Fourth month bidding is now available to all Agile platform users. Mortgage lenders and broker dealers interested in learning more about this functionality are encouraged to contact Agile for more information: https://trade-agile.com/contact-us/

NOTES:

*1 - Andrew Price is a capital markets professional with more than 12 years of experience starting as a secondary marketing trader and growing into his current AVP Capital Markets role.

*2 - Eric Bridges is a VP of Secondary Marketing with more than 10 years of experience working as a secondary marketing professional.

About Agile:

Agile brings together mortgage lenders and dealers of all sizes onto a single MBS fintech platform. Agile facilitates the exchange of TBA MBS by securing and automating communication between mortgage lenders and broker-dealers. Agile digitizes the historically phone-based process to an electronic platform which may improve profitability and efficiency, while reducing administrative errors. Through its competitive TBA RFQ digital platform, mortgage lenders gain access to national and regional broker-dealers previously inaccessible on digital platforms, while broker-dealers gain access to an ever-growing network of lenders. Based in Philadelphia, Agile Trading Technologies supports a national network of clients* with a team of capital markets professionals who have deep trading experience at financial organizations of every size.

Learn more: https://trade-agile.com/

*Agile is not available for retail natural person investors.

Agile, a groundbreaking fintech bringing mortgage lenders and broker-dealers onto a single electronic platform, announced today the launch of electronic bidding for the fourth month in the To-Be-Announced mortgage-backed securities (TBA) market. This marks a significant leap forward in the trading landscape of off-screen securities.

Related link: https://trade-agile.com/

MCT Releases Custom TBA Indications to Provide Price Discovery for Illiquid Coupons

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, today announced the release of pricing indications for the to-be-announced mortgage-backed securities (TBAs) used by mortgage lenders to hedge their open mortgage pipelines. TBA indications improve transparency in illiquid market segments and act as a key reference point on lenders' unique executions - critical data for generating accurate front-end borrower pricing.

"TBA indications can now be electronically requested ad hoc by mortgage lenders from multiple approved broker-dealers," said Phil Rasori, COO at MCT. "For the first time, lenders have a custom reference point to their own TBA execution rather than working solely from market-wide pricing that may not be applicable to them."

TBAs are the forward contracts on mortgage-backed securities used across the industry to hedge open mortgage pipelines against changes in interest rates during the origination process. With this latest development, MCT clients are able to make timely, on-demand pricing indication requests for specific coupons in the TBA market. This new price discovery is a significant benefit to mortgage lenders, since traditionally only the most liquid coupons are visible on standard market pricing reference tools.

"I needed pricing visibility on the GNMA 7.5% coupon, but there was no screen pricing available," said Nick LaClair, Pricing Strategy and Analytics Manager, AVP at Embrace Home Loans. "Being able to electronically request and receive these indications enabled me to navigate the illiquid segments of the market and produce more accurate pricing, allowing us to offer more pricing options to our customers in a very challenging environment."

MCT is proud to offer this new pricing service that is made possible through a technology licensing arrangement with leading fintech Agile Trading Technologies. Agile operates a request for quote (RFQ) platform that connects mortgage lenders with broker-dealers of all sizes.

Please contact MCT to learn more about how TBA indications help improve secondary market performance, at: https://mct-trading.com/contact/.

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT's stewardship. MCT's technology and know-how continues to revolutionize how mortgage assets are priced, locked, protected, valued, and exchanged - offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

RELATED LINKS:

https://trade-agile.com/

Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, today announced the release of pricing indications for the to-be-announced mortgage-backed securities (TBAs) used by mortgage lenders to hedge their open mortgage pipelines. TBA indications improve transparency in illiquid market segments and act as a key reference point on lenders' unique executions - critical data for generating accurate front-end borrower pricing.

Related link: https://mct-trading.com/

HilltopSecurities Joins Agile’s Growing Broker-Dealer Network

PHILADELPHIA, Pa. /ScoopCloud/ -- Agile, a groundbreaking fintech bringing mortgage lenders and broker-dealers onto a single electronic platform, is excited to announce that HilltopSecurities, a full-service investment bank and wealth advisory firm, has joined Agile's broker-dealer network. Agile clients already approved with HilltopSecurities will automatically see them added as an option for individual and competitive trading, and clients interested in an introduction can contact Agile or work with their HilltopSecurities representative for more information.

"Providing better execution, liquidity, and transparency to mortgage lenders is a key element in the expansion of Hilltop's mortgage business," says Justin Tannen, Agency MBS TBA Trader at HilltopSecurities. "We cover a wide array of products and have a large customer base of non-originators, so partnering with Agile was an easy decision to make. It allows us to assist a large network of lenders, helping us round out the end-accounts we trade with.

"Given our deep reach in the mortgage world, we are in a unique position to use our superior liquidity to provide better pricing to lenders - which they need now more than ever amid heightened volatility and wide bid/ask spreads. Our goal is to tighten markets and improve liquidity - we will never bid or offer behind the screens. Ultimately, we want to be a one stop shop for lenders: between our own originator, Prime Lending, the warehouse lending we provide through our bank, Plains Capital, and us at HilltopSecurities, we are well-positioned to compete in this sector and Agile helps us get there."

Agile's mission is to unlock the potential of an electronic marketplace and grow its network of lenders and broker-dealers to efficiently interact with the market and their counterparties.

Agile's broker-dealer network now consists of 20 broker-dealers with access to a growing pool of mortgage lenders who trade TBAs. With easy electronic access to new clients and added volume, Agile's electronic RFQ platform and MBS pool bidding provides MBS and all broker-dealers on the platform with increased trading partners and requests, heightened granularity and speed, and an excellent client experience.

About HilltopSecurities:

Founded in 1946, HilltopSecurities is a full-service investment bank and wealth advisory firm providing financial services for public entities, institutional investors, housing finance agencies, broker-dealers, and individual investors. HilltopSecurities represents a unique blend of financial strength, industry knowledge, and decades of experience helping clients pursue their bold visions.

Learn more: https://www.hilltopsecurities.com/

About Agile:

The industry's first MBS fintech, Agile brings together lenders and dealers of all sizes onto a single platform. Agile facilitates the exchange of TBA MBS by securing and automating communication between mortgage lenders and broker-dealers. Agile digitizes the historically phone-based process to an electronic platform which may improve profitability and efficiency, while reducing administrative errors. Through its competitive TBA RFQ digital platform, mortgage lenders gain access to national and regional broker-dealers previously inaccessible on digital platforms, while broker-dealers gain access to an ever-growing network of lenders. Based in Philadelphia, Agile Trading Technologies supports a national network of clients with a team of capital markets professionals who have deep trading experience at financial organizations of every size.

Learn more: https://trade-agile.com/.

Agile, a groundbreaking fintech bringing mortgage lenders and broker-dealers onto a single electronic platform, is excited to announce that HilltopSecurities, a full-service investment bank and wealth advisory firm, has joined Agile's broker-dealer network.

Related link: https://trade-agile.com/

Agile Appoints Greg Vacura as President to Further Mission of Creating a Better MBS Market

PHILADELPHIA, Pa. /ScoopCloud/ -- Agile, a groundbreaking fintech bringing mortgage lenders and broker dealers together on a single electronic platform, today announced the appointment of Greg Vacura as company president. Mr. Vacura will be working to fulfill Agile's mission to create a better mortgage-backed securities (MBS) market through increasing liquidity and automation in TBAs, MBS pools, and AOTs. Agile replaces legacy phone and email processes with an electronic platform designed to help the mortgage asset class operate more efficiently and market participants thrive.

"The mortgage industry has a long way to go on the path towards improving liquidity and execution through adoption of marketplace solutions," stated Greg Vacura, president at Agile. "I'm excited to leverage my past experience pushing the industry forward in my new role, particularly during this time of challenging market conditions with the opportunity to help so many industry participants."

Mr. Vacura is a thirty-year mortgage industry veteran who previously served as SVP of Correspondent Pricing at Wells Fargo Funding, where he managed all aspects of correspondent mortgage pricing activity including the mandatory trade desk, best efforts lock desk, revenue analytics, and correspondent pricing vendor relationships.

Mr. Vacura's development of the bid tape assignment-of-trade (AOT) loan sale delivery method in 2018 is credited as one of the most significant innovations in the mortgage secondary market in the last decade. This delivery method combined the cash and execution benefits of trade assignment with the granularity and flexibility of bid tape pricing, and saw rapid proliferation among both mortgage sellers and mortgage buyers offering their own bid tape AOT programs.

"I am confident that Greg's open, positive, and transparent management style coupled with his subject matter expertise in the whole loan and mortgage securities aspects of our industry will allow him to ably lead Agile," said Curtis Richins, CEO. "We are proud of our role in educating lenders about the benefits of bid tape AOT alongside Greg since 2018, and can't wait to see how he continues to innovate in his new position at Agile."

Agile recently facilitated execution of the mortgage industry's first ever fully-automated AOT and has plans to further improve the utilization and convenience of AOTs under Mr. Vacura's leadership. Agile is a digital request for quote platform that replaces manual, phone-based processes to create a revolutionary new electronic marketplace. Agile is available on a stand-alone basis or as complementary software to other electronic marketplaces or hedge advisory services, facilitating a seamless trading experience with existing processes.

Contact Agile for more information on improving MBS liquidity and efficiency: https://trade-agile.com/contact-us/

About Agile:

The industry's first MBS fintech, Agile brings together lenders and dealers of all sizes onto a single platform. Agile facilitates the exchange of TBA MBS by securing and automating communication between mortgage lenders and broker-dealers. Agile digitizes the historically phone-based process to an electronic platform which may improve profitability and efficiency, while reducing administrative errors.

Through its competitive TBA RFQ digital platform, mortgage lenders gain access to national and regional broker-dealers previously inaccessible on digital platforms, while broker-dealers gain access to an ever-growing network of lenders. Based in Philadelphia, Agile Trading Technologies supports a national network of clients with a team of capital markets professionals who have deep trading experience at financial organizations of every size.

Learn more: https://trade-agile.com/

Agile, a groundbreaking fintech bringing mortgage lenders and broker dealers together on a single electronic platform, today announced the appointment of Greg Vacura as company president. Mr. Vacura will be working to fulfill Agile's mission to create a better mortgage-backed securities (MBS) market through increasing liquidity and automation in TBAs, MBS pools, and AOTs.

Related link: https://trade-agile.com/

New MBS Fintech Agile Revolutionizes Trading with the Launch of RFQ Platform

PHILADELPHIA, Pa. /ScoopCloud/ -- Agile, a new fintech bringing mortgage lenders and broker dealers on to a single electronic platform, has formally announced the launch of its flagship RFQ (request for quote) platform. All MBS market participants can now participate on an electronic platform that expedites the exchange of To-Be-Announced Mortgage-Backed Securities (TBAs).

Despite the rise of electronic trading and digitization of financial services, MBS trading has largely been conducted over the phone. Phone-based trading is slow and impractical in generating numerous competitive bids. Agile is introducing a new, electronic way to quote MBS through a browser-based platform that digitizes the process of buying and selling TBAs. As a result, Agile enables the user to efficiently generate more competitive bids compared to legacy phone-based processes. (*See note 1.)

"Our mission is to bring the mortgage capital markets into a new digital era," comments Curtis Richins, President & CEO of Agile. "We're democratizing the TBA Market for lenders and dealers both big and small. We created Agile because we believe that a transparent market is a better market and because every counterparty deserves access to a fair, efficient and transparent marketplace."

Agile was developed with direct feedback from mortgage lenders and broker-dealers, resulting in a powerful platform that integrates smoothly with existing processes. With the browser-based platform, lenders can request trades from any device, anywhere. Agile's three step process for digital TBA trading communication can help lenders improve efficiency, while expanding the number of quotes they receive and their network of counterparties. For the first time, all mortgage lenders can trade with regional and primary dealers electronically.

Agile's initial roll-out began January 1, 2021 and demonstrated rapid adoption across the mortgage secondary market. Agile has supported 261 financial institutions who have exchanged 95.6 thousand quotes. (*See note 2.) Lenders have been quick to welcome the benefits of the new platform.

Early adopter Andrew Stringer (Director of Secondary/Capital Markets at First Bank), said, "After a busy conference day, I found myself with moments left to optimize coverage before market close. A few taps in Agile and I was done! No calls, no computer, no manual calculations - just a quick TBA trade and back to unwinding after a long day."

Agile has already received strong participation from the broker-dealer community, thanks to new opportunities for growth and operational improvement. Agile provides access to an ever-growing network of lenders, facilitates increased quote requests from approved counterparties, and delivers the efficiencies of a digital trade desk. Broker-dealers also have the benefit of straight-through processing with leading trade order management systems. Featured broker-dealers currently on the platform include, but are not limited to, the following: BMO Financial, BOK Financial Securities, CMG Securities, Daiwa Capital Markets, ED&F Man, Huntington Securities, Janney Montgomery Scott, JVB Financial, Performance Trust, Raymond James, South Street Securities, Stifel, Nicolaus & Co, and StoneX.

Brent Giese, Executive Director of Fixed Income at Daiwa Capital Markets America, said: "Working with Agile has been very productive and beneficial to Daiwa's growing mortgage banking sales franchise. With access to many qualified mortgage originators, the platform provides an efficient means to reach significant volumes. The technology is advanced and allows for effective performance feedback while their straight though processing capability eliminates costly trade errors. Simply put, I have been very impressed and am thankful to have this valued partnership."

About Agile

The industry's first MBS fintech, Agile brings together lenders and dealers of all sizes onto a single platform. Agile facilitates the exchange of TBA MBS by securing and automating communication between mortgage lenders and broker-dealers. Agile digitizes the historically phone-based process to an electronic platform which may improve profitability and efficiency, while reducing administrative errors. Through its competitive TBA RFQ digital platform, mortgage lenders gain access to national and regional broker-dealers previously inaccessible on digital platforms, while broker-dealers gain access to an ever-growing network of lenders. Based in Philadelphia, Agile Trading Technologies supports a national network of clients with a team of capital markets professionals who have deep trading experience at financial organizations of every size.

For more information, visit https://trade-agile.com/ or call (619) 332-6205.

Media Contact:
Vested
Agile@fullyvested.com

NOTES:

[1] MCT Study of Digital RFQ Implementation, see Works Cited for details.

[2] Agile RFQ Platform Usage Data 2021 YTD Summary Report.

WORKS CITED

Testimonials may not be representative of the experience of other clients, and past results are not a guarantee of future performance or success.

Benefits and metrics listed in this document were sourced from the MCT Study of Digital RFQ Implementation, July 2021 found at https://mct-trading.com/study-of-digital-rfq-implementation/. Mortgage Capital Trading (MCT) is a client of Agile Trading Technologies and active user of the Agile RFQ platform.

This study measured the change in phone use, productivity, and TBA execution associated with the implementation of Agile Trading Technology's RFQ platform (Agile RFQ), as well as the experiences of platform users. The study encompassed over 250 mortgage lender clients of MCT who either used Agile RFQ to support their own TBA trading, or Agile RFQ was used by MCT traders to support TBA trading on their behalf. The study measured the month of January 2021 (after implementation) against the month of January 2020 (before implementation). Data was collected through MCT reports on TBA trading activity and surveys of platform users. Possible limitations of the study include the relatively narrow time period of measurement and the combination of qualitative and quantitative data used for measurement.

MULTIMEDIA:

*LOGO link for media: https://www.Send2Press.com/300dpi/21-0909s2p-agile-logo-300dpi.jpg

Agile, a new fintech bringing mortgage lenders and broker dealers on to a single electronic platform, has formally announced the launch of its flagship RFQ (request for quote) platform. All MBS market participants can now participate on an electronic platform that expedites the exchange of To-Be-Announced Mortgage-Backed Securities (TBAs).

Related link: https://trade-agile.com/

MCT Officially Launches Trade Auction Manager to Enable Electronic TBA MBS Trading

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that it has officially launched Trade Auction Manager(TM) (TAM) to enable more efficient bidding of TBA mortgage-backed securities used by lenders to hedge their open mortgage pipelines. The browser-based software module is accessible via MCTlive!, the company's award-winning comprehensive capital markets platform.

TAM completely digitizes a formerly manual communication process to confirm time-sensitive TBA trades that were once largely phone-based. TBA trading, particularly with regional broker-dealers, is the last remaining secondary marketing function that relies on telephone communications, which TAM now successfully automates.

MCT developed TAM in collaboration with multiple lender clients and broker-dealers who participated in the testing and successful soft launch in early 2019. With the introduction of TAM, the mortgage industry now has a powerful TBA trading platform that allows broker-dealers to compete for a higher volume of trade requests, while lenders gain thanks to expansion and automation of the competitive bidding process.

"TAM is a seismic shift for the mid-sized lender - increasing execution, liquidity, and transparency, while connecting them digitally with their regional dealers for the first time," said Phil Rasori, COO at MCT. "The initial experience is showing that TAM will deliver a significant enhancement in execution for MCT clients."

Additional benefits of TAM include greater accuracy, increased speed, and a reduction of data entry errors. When using TAM all transactions are automatically recorded, creating heightened reliability and trackability of trades. TAM leverages a single database of record, which centralizes critical data and simplifies trade reconciliations. TAM integrates seamlessly with MCT's hedging and loan sale platforms or it can be utilized independently as a standalone solution.

The launch of TAM follows in the footsteps of MCT's wildly successful rollout of its award-wining Bid Auction Manager (BAM) whole loan trading platform, which encrypts and automates the bid tape process for lenders and investors to achieve best execution on loan sales.

MCT clients have been leveraging TAM to transact with a wide array of broker-dealers since the initial rollout earlier this year. Learn more about TAM's features, participating parties, and the Fannie Mae TBA Trade Desk connectivity by joining MCT's industry webinar on TAM to be held June 6, 2019.

About MCT:
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, MCT also has California offices in Healdsburg and Los Angeles, as well as sites in Dallas and Philadelphia. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style, hands-on engagement clients value. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that it has officially launched Trade Auction Manager(TM) (TAM) to enable more efficient bidding of TBA mortgage-backed securities used by lenders to hedge their open mortgage pipelines. The browser-based software module is accessible via MCTlive!, the company's award-winning comprehensive capital markets platform.

Related link: https://mct-trading.com/