A press release entitled, "Bloomberg First to Connect All Repo Agencies & Meet Fed Reforms," says, "Investors in the U.S. tri-party securities repurchase (repo) market can now use Bloomberg technology to match and confirm repo trades with both clearing banks, Bank of New York Mellon (BNY) and JP Morgan. Bloomberg's fixed income group announces the first agency-neutral platform that allows investors to process and confirm repo trades with either clearing bank as mandated by the Federal Reserve Bank of New York (The Fed)." Another release entitled, "J.P. Morgan Announces Successful Transition to Three-Way Trade Confirmation for Tri-Party Repo Clients," says, "J.P. Morgan today announced that its active tri-party repo clients have successfully completed the transition to three-way trade confirmation as mandated by the Tri-Party Repo Market Infrastructure Reform Task Force. By value, 99% of all tri-party repos booked daily through J.P. Morgan are now confirmed by both counterparties."
