Tradeweb and three Wall Street firms this week launched technology designed to mitigate the risk of failed to-be-announced (TBA) MBS trades in situations where deals can be resolved by delivery through tri-party arrangements.

Problems with tri-party trades occur, for example, in situations where an asset manager buys an MBS pool from one dealer with the intention of selling it to another, but the trade does not clear because the "sold" pools cannot be delivered to the buying dealer.

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