AMF/Custodian Industry Procedures
To view the AMF/Custodian Industry Procedures, please click here.
TMPG Fails Charge: Final Pre-Launch Information Session
The Asset Management Group of SIFMA presents - TMPG Fails Charge: Final Pre-Launch Information Session
Thursday, April 23, 2009 from 11:30 a.m. to 1:30 p.m. ET
360 Madison Avenue, 17th Floor, New York City
The Treasury Market Practices Group (TMPG) fails charge market practice implementation will begin on May 1, 2009. The Asset Management Group of SIFMA is hosting this Final Pre-Launch Information Session for asset managers, custodians and dealers to disseminate information about the fails charge market practice and procedures to implement buy side processes that would help in handling the reporting, research and claims process related to the fails charge.
The Final Pre-Launch Information Session will cover topics such as
o Review of TMPG Fails Charge Market Practice Recommendation
o Minimum Claim Threshold
o Accrual Method for Monthly Billing
o Asset Manager / Custodian Workflow
o Fail Reporting
o Discussion on How to Handle Various Fail Scenarios
The registration fees for this event are as follows: $150 for SIFMA member in person attendee, $190 for non-member in person attendee, and $35 for telephone attendees.
To register for this event click here.
For questions regarding this event, please contact Diane Trupia of the Asset Managers Forum staff at 212-313-1170 or dtrupia@sifma.org.
Updated TMPG Documents
The Treasury Market Practices Group (TMPG) released on 3/31 three revised documents incorporating the updates to its fails charge recommendation announced on Monday, March 30, 2009. Please click on the links below to view the updated Fails Charge Trading Practice, Frequently Asked Questions, and Treasury Market Best Practices documents.
To view the Fails Charge Trading Practice click here.
To view Frequently Asked Questions click here.
To view Treasury Market Best Practices click here.
TMPG Announcement
The Treasury Market Practices Group (TMPG) today announced two updates to its fails charge recommendation. These include (1) the incorporation of a minimum threshold for fails charges and (2) support for the billing of claims on a one-time basis tied to the date when a transaction actually settles. In addition, the TMPG issued a clarification regarding the reference rate used to calculate fails charges.
Please click here to view the announcement.
Committees: TMPG Fail Penalty - Custodian / Asset Manager Working Group
The Treasury Market Practices Group (TMPG) has recommended that a charge for settlement fails in U.S. Treasury securities be adopted as a standard market practice. The Asset Managers Forum has created a working group for custodians and asset managers to discuss how they can address the TMPG fail penalty which goes into effect on May 1, 2009. The working group will analyze work flows of various parties relating to fails, delineate responsibilities and issues regarding the claims process and possibly recommend an industry-wide solution. If you would like to participate in the AMF Custodian / Asset Manager working group, please contact Diane Trupia of the AMF staff at 212-313-1170 or dtrupia@sifma.org.
More information on the TMPG Fail Penalty:
Click here to read the TMPG Frequently Asked Questions (February 2, 2009).
Click here to read the TMPG Fails Charge Trading Practice (January 15, 2009).
Click here to read the TMPG Treasury Fail Penalty Conference Video Jerry Pucci, BlackRock (January 8, 2009).
Click here to read the TMPG Claiming a Fails Charge (January 5, 2009).
Click here to read the TMPG Timeline (January 5, 2009).
Click here to read the TMPG Announcement (November 12, 2008).