New York Fed Selects Mischler Financial Group to Support SMCCF and Becomes Approved Counterparty for Open Market Agency CMBS program
October 26, Stamford, CT- The Federal Reserve Bank of New York has announced that diversity-certified investment bank and institutional brokerage Mischler Financial Group, Inc. (MFG) has been selected to support the Secondary Market Corporate Credit Facility (SMCCF) and is also selected to serve as an approved counterparty for the Open Market Trading Desk’s purchases of agency commercial mortgage-backed securities (CMBS).
Approved firms for both SMCCF and the Agency CMBS counterparty program have been selected based on eligibility requirements, including size restrictions, transaction capabilities, financial condition, compliance controls, and equal opportunity and diversity efforts. Mischler had previously been selected by the New York Fed to participate in its inaugural Treasury Operations Counterparty Pilot Program in 2013, as well as the inaugural Mortgage-Backed Securities Pilot Program in 2014.
Dean Chamberlain, CEO of Mischler Financial Group stated, “It is an honor and a privilege to be appointed for these programs to serve the New York Fed, and to be recognized for our ability to carry out their mission and meet the needs of the most demanding market participants.”
Established in 1994, Mischler is the securities industry’s oldest minority-certified broker-dealer owned and operated by Service-Disabled Veterans, a federally-certified Service-Disabled Veteran-Owned Small Business Enterprise (SDVOSB) and a certified Minority-Owned Business (MBE). Mischler’s boot prints can be found across the debt and equities capital markets, where the firm serves as a pure complement to the role played by lead underwriters and works with a broad spectrum of corporate debt and equity issuers and municipal debt issuers, as well as actively trading in the secondary markets. Mischler’s holistic approach to institutional brokerage combines next-level technology with concierge-style, high-touch service to provide better execution for corporate treasury clients overseeing share repurchase and FX hedging strategies and for asset managers who oversee investment strategies across domestic and global equities, ETFs, fixed income, rates, and FX markets. The firm’s website is located at www.mischlerfinancial.com
For Additional Information:
Dean Chamberlain, CEO