Book Trades for TBAs

In the TBA panel, you can manually book an open (buy or short sell) and close (sell or buy to cover) trade for a to be announced (TBA) security. A TBA security is an underlying contract on a mortgage backed security to buy or sell a mortgage backed security that will be delivered at an agreed upon date in the future. The number of pools and the specific pools that will be delivered to fulfill the TBA trade are unknown at the time of the trade. You can use the Allocate TBA Buy and Allocate TBA Turnaround panels to process allocations to the underlying pools once they are known.
This article assumes you are familiar with the entity and security level elections that have been made for processing a TBA security.