New Trading Platform Drives Automated Bidding And Trade Execution

Mortgage Capital Trading, Inc. (MCT), a mortgage hedge advisory and secondary marketing software firm, has officially launched Trade Auction Manager (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.


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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.


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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.


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“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.”


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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.