STAMFORD, Conn., June 6, 2013 (GLOBE NEWSWIRE) -- The Federal Reserve Bank of New York ("FRBNY") announced today that it has selected Mischler Financial Group ("MFG"), the securities industry's oldest firm certified as a service-disabled veterans business enterprise (SDVBE), to participate in the recently announced Treasury Operations Counterparty Pilot Program, enabling Mischler to conduct secondary market outright purchases or sales of U.S. Treasury securities alongside designated primary dealers.
According to the New York Fed, the program is intended to broaden access to open market operations beyond the Primary Dealer community and augment FRBNY's capacity in the course of conducting monetary policy operations.
In a statement made by Dean Chamberlain, CEO of Mischler Financial Group, "We're honored to be named by the New York Federal Reserve to participate in the Treasury Operations Counterparty Pilot Program. This is a great tribute to our firm's capabilities and provides an important opportunity for our institutional clients to access the U.S. Treasury marketplace." The New York Federal Reserve Bank formal announcement can be found at: http://www.newyorkfed.org/markets/toc_pilot.html.
About Mischler Financial Group
Headquartered in Newport Beach, California with regional offices in Stamford, CT, Boston, MA, Red Bank, NJ, Chicago, IL, and Detroit, MI, MFG serves leading institutional investment managers, corporate treasurers, public plan sponsors, endowments and foundations by providing capital markets services and agency-only execution within the global equities and fixed income markets. The firm also provides asset management for liquid and alternative investment strategies. The firm's website is located at http://www.mischlerfinancial.com.