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SINGLE SECURITY TRANSITION

UMBS TRADING

   
 

TRADEWEB TIMELINE - KEY DATES:

UMBS FORWARD TRADING: 

  • 30 year UMBS now available to trade on Tradeweb 
  • 15 year UMBS now available to trade on Tradeweb

SETTLEMENT – June 2019

 

Testing is currently available

Questions: TWMBS@tradeweb.com

 

 
 
 

 

 


TRADEWEB
30 YEAR SCREEN
WITH UMBS
 

 
 

How Tradeweb will display the Single Security TBA during the transition period while Fannie, Freddie and UMBS are trading simultaneously.

 
 

90 DAYS PRIOR TO FIRST SETTLEMENT DATE
(JUNE 2019)

FNMA, UMBS and PCGLD will show on Tradeweb.

   
 
   

60 DAYS PRIOR TO FIRST SETTLEMENT DATE
(JUNE 2019)

FNMA, UMBS and PCGLD will show on Tradeweb.

 
 
 

30 DAYS PRIOR TO FIRST SETTLEMENT DATE
(JUNE 2019)

FNMA and PCGLD disappear, just UMBS will show on Tradeweb.

   
  Bond Connect                            

The Single Security Initiative is a joint initiative of Fannie Mae and Freddie Mac (the Enterprises), under the direction of FHFA, to develop a common mortgage-backed security. The objective is to combine the separate TBA markets of the Enterprises – currently $2.4 Trillion for Fannie Mae and $1.1 Trillion for Freddie Mac – into one larger, more liquid market. The Single Security Initiative will go live on June 3, 2019. 

Learn More About the Single Security Initiative ››

 
     
 

FAQs

 
 

Q. Will Freddie Mac 45-day TBA contracts continue to be available?

A. Yes, until activity indicates they are no longer needed.

 

 

 
     
 

 

 
 

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