The New York Fed has authorised MUFG Securities America (MUSA) as a primary dealer, allowing it to take part in the reserve bank’s open market operations.
The broker can now participate in US Treasury auctions and provide market information and analysis to the NY Fed’s market operations desk.
Currently, 26 primary dealers are approved by the NY Fed. SMBC Nikko Securities America was the last to be added to the list, in January 2025.
This group reports trading activities, alongside cash and financing positions, on a weekly basis.
They also take part in the Fed’s Survey of Market Expectations, providing their expectations for the economy, monetary policy and financial market developments in advance of Federal Open Market Committee meetings.
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