Assessment of Mortgage-Backed Securities and Trading for Bank of America
Bank of America
Bank of America is currently facing major changes to their mortgage trading floor. FINRA has proposed their reporting system, Trade Reporting and Compliance Engine (TRACE), to be implemented in May of 2011 which requires firms to report information on all trades of Mortgage-Backed Securities. Because of these new requirements, Bank of America has needed to assess their current state at the desks and determine what alterations will need to be made before TRACE goes live. The goal of this project was to study the TRACE documents provided by FINRA, evaluate the workflow of the desks, provide detailed summaries and maps created from those studies, and supply recommendations for change which will further them in their goal of meeting the regulation requirements.
Worcester Polytechnic Institute
Major Qualifying Project
All authors have granted to WPI a nonexclusive royalty-free license to distribute copies of the work, subject to other agreements. Copyright is held by the author or authors, with all rights reserved, unless otherwise noted.