Standard Forms / Documentation
Here you'll find forms, documentation, agreements and guidance notes. In light of rapidly changing business and regulatory environments, current accuracy cannot be assured.
- MBS/ABS/CDO - Securitized Products
- Corporate Credit Markets and Money Market Instruments
- Cross-Product
- Global
- Funding and US Government Securities Products
- Municipal Securities Market Forms
MBS/ABS/CDO - Securitized Products
Uniform Practices for the Clearance Settlement of Mortgage - Backed Securities and Other Related Securities - update: 1-Jan-99
The comprehensive Uniform Practices Manual is considered by many to be the industry standard. These are trading, clearance and settlement guidelines representing common industry practice, providing the information you need in one place. A full chapter is devoted to Standard Formulas, with information on settlement-based calculations, prepayment models, default analysis, yield and yield-related measures, accrual instrument calculations, day-count standards, as well as age and coupon assumptions for generic pools. 2nd Edition. ©1999-2004. Click Here to Purchase Uniform Practices
MBS Notification and Settlement Dates
Notification and settlement dates for mortgage backed securities.
Revised MBS Buy-In Procedures - update: 5-Jul-06
Revised recommended procedures for mortgage-backed securities (MBS) buy-ins that are effective as of July 5, 2006.
Standardized CDO Data File Format
In order to improve the efficiency, transparency, and usefulness of reporting on Collateralized Debt Obligations (CDOs), SIFMA, in concert with other participants in the CDO marketplace, is recommending a standardized format for data files related to the performance of CDO transactions that are disseminated on a regular basis by the trustees of the deals.
Round Robin Contact List (excel)
The Association has compiled a list of contacts for Mortgage Operations professionals, both buyside and sellside, involved in the resolution of round robin situations. This list will complement the round robin conference call held each notification date. An operations manager, allocations contact, and clearance contact has been provided for each firm. If your firm is not listed, and you would like to add contact info, please contact Chris Killian.
Guidelines on Delivery of Offering Materials Relating to GSE Securities - update 13-Dec-07
Revised Guidelines
Implementation Note
Master Agreement
Negative Consent Amendment
Settlement Recommendation for Jumbo-Conforming Pools - March 20, 2008
Revised “Good Delivery Guidelines” found in Uniform Practices.
Trade Assignment Agreement - 2003 - update 1-Oct-03
The Association has published a Trade Assignment Agreement, which may be utilized to assign an outright securities transaction, or the back-leg of a repo transaction.
MBS Pool Notification Extension Guideline - published: 8-Oct-99
The following guideline for pool notification extension has been adopted pursuant to the Association's good delivery guidelines. This guideline sets forth contingency procedures to be followed in the event that MBSCC's Electronic Pool Notification system experiences a system disruption.
MBS Third Party Transactions - published: 20-May-02
From time to time in connection with mortgage securities forward transactions, a dealer may agree to accept performance obligations that have been delegated by its counter party to a third party with whom the dealer does not have an original contractual relationship.
Recommended Security-Level Remittance Reporting Categories for Mortgage-Backed and Asset-Backed Securities - published: 1-Oct-98
Recommended minimum security-level remittance reporting categories, definitions and file layouts for mortgage-backed and asset-backed securities.
Revised Standardized Template for Monthly CDO Trustee Reports -
published: 18-Aug-04
Master Securities Forward Transaction Agreement - published 1-Jul-96
Agreement (pdf)
Guidance Notes (pdf)
Master Selling Group Agreement
Agreement (pdf)
Cross-Product
Form X17F-A Missing/lost/Counterfeit Securities Report- Form 135 - pdf
Certificate For The Purchase Of Initial Public Offerings Of Equity Securities Pursuant to NASD Rule 2790 & Informational Memo - updated February 2004
Electronic Access and Trading Agreement & Information Memorandum
Prime Brokerage Agreement- Form 150 - pdf Agreement for Prime Brokerage Clearance Services- Form 151 - updated March 2006, pdf
(Comparison) Agreement for Prime Brokerage Clearance Services - Form 151 -
This form is marked in red to show the revisions made to the previously posted 1994 version when updated in March 2006. See updated Form 151 above, pdf
Debt Prime Brokerage Documents - last update: 8-Oct-99
In December 2000 the Association last update an exposure draft of standardized documentation and guidance notes to facilitate debt prime brokerage transactions.
Corporate Trades
- last update: 25-May-99
Documents Concerning the Voluntary Corporate Bond Transparency Initiative.
Amended and Restated Money Market Trading Practice Guidelines (pdf) - October 2007
Money Market Trading Practices Guidelines - last update: 1-Jan-98
Guidelines (pdf)
Money Market Y2K Recommendations - last update: 24-Mar-99
The Association's Money Market Committee on March 24, 1999 approved a recommendation that issuance of commercial paper, certificates of deposit and other short-term debt instruments that would mature at the end of December 1999 and the beginning of January 2000 be curtailed as part of the financial service industry's plans to reduce volume activity at the end of the year.
Remittance Information Reporting and Dissemination for Mortgage-Backed and Asset-Backed Securities - last update: 1-Sep-97
Current Status, Industry Challenges and Goals for Reform
A 1996 assessment of the then-current status of the remittance information reporting process for non-agency mortgage-backed and asset-backed securities.
Trading Practice Guidelines for Treasury IIS - last update: 18-Dec-96
Trading Practice Guidelines for Treasury's Inflation-Indexed Securities (pdf)
Draft Recommended Yield Calculation and Disclosure Procedures - last update: 7-Dec-95
The Association's Fixed Rate Capital Securities Committee recently developed recommended guidelines relating to yield calculation and disclosure procedures.
Guiding Principles To Promote Integrity of Fixed Income Research - 19-May-04
3(c)(7) Securities Policies and Procedures - last update: 21-Feb-03
- The Association Secondary Market Procedures (April, 2003)
- Law Firms' Memorandum and Revised Procedures for Book-Entry Deposit (February 2003)
Section 16 Authorization Letter & Background Information
Treasury
Report to the Secretary Of The Treasury From The Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association:
- July 29, 2008
- January 29, 2008
- July 31, 2007
- May 1, 2007
- January 30, 2007
Revised Form of Consent/Instructions for 10-year Treasuries - last update: 16-Sep-03
A model form of a written instruction that can be used by dealers to authorize their clearing bank to provide certain transaction related information relating to fails in the Ten-Year Treasury Note to FICC.
Treasury Debt Management Policy Paper: 2001-02 - last update: 1-Jun-01
STRIPS Liquidity Paper
Exhibit 1
Exhibit 2
Exhibit 3
Exhibit 4
Exhibit 5
Corporate Credit Markets and Money Market Instruments
Broker or Dealer Special Omnibus Account Agreement - Form 11 - pdf
Joint Account Agreement - published 22-Jul-04
The standardized Joint Account Agreement is for use by broker-dealers who enter into shared trading accounts.
Practice Guidelines for Trading in Distressed Bonds - published: 14-Sep-04
Uniform trading terms and voluntary trading practice guidelines for the trading, clearance, and settlement of distressed bonds. The guidelines provide a framework for standardization while preserving the flexibility needed to negotiate the specific terms of different transactions.
Global Forms
EPDA Handbook - The European Primary Dealers Association (EPDA), launched its Handbook on July 7, 2008.
Compendium To Assist Basel Committee - last update: 4-Mar-04
The Association announced the publication of a compendium on the capital treatment of trading book items, such as derivatives and securities financing transactions.
Structured Products: Principles for Managing the Distributor-Individual Investor Relationship - July 2008
ESF, ICMA, ISDA, LIBA and SIFMA release global principles to address wide range of issues affecting distribution of structured products to individual investors.
ESF, ICMA, ISDA, LIBA, SIFMA Release Draft set of Principles Relating to Retail Structured Products - 2007
Post-Issuance Reporting, Offering Document Disclosure Practices - last update: 2-Jan-02
ESF approved supplemental guidelines on Post-Issuance Transaction Reporting.
White Paper: A Framework for European Securitisation - last update: 12-Jun-02
The European Securitisation Forum has unveiled a white paper, A Framework for European Securitisation.
Funding and US Government Securities Products
Master Repurchase Agreement - Agreement, Notes and Annexes
Master Repurchase Agreement Legal Opinions - update 13-Jan-06
Five opinions from counsel in the Cayman Islands, British Virgin Islands, Bermuda and the United States on the enforceability and netting provisions of the MRA are available free to members, or to non-members for a $2000 fee.
Master Securities Loan Agreement
Master Securities Loan Agreement Opinions - last update 3-Mar-06
Opinions on the enforceability enforceability and netting provisions of the Master Securities Loan Agreement under U.S. law are now available. The opinions are available free to members or to non-members for a $2000 fee by contacting publications.
GMRA Opinions 2008 - New
Global Master Repurchase Agreement - last update 1-Jan-00
Agreements, guidance notes, multi-language documents, annexes etc. for 1995 and 2000 versions.
Master Securities Forward Transaction Agreement - published 1-Jul-96
Agreement (pdf)
Guidance Notes (pdf)
Restated Repo Trading Practices Guidelines - last update: 17-Apr-03
Buy-In Procedures for Government Securities - last update: 1-Nov-94
Buy-In Procedures for Government Securities (pdf)
OTC Options Agreements, 1989 and 2000 Versions - published 1-Aug-89
Master OTC Options Agreement, 2000 Version (pdf)
Guidance Notes (pdf)
Master Dealer Agreement: OTC Option Transactions--U.S. Treasury Securities, 1989 Version (pdf)
Cross-Product Master Agreement - published 16-Jun-03
Cross-Product Master Agreement, Cross-Affiliate Version 2 and 2000 Cross-Product Master Agreement, Agreements, Guidance Notes, Legal Memoranda and Opinions.
Government Sponsored Enterprises (GSE) Securities Guidelines and Other Materials - update 13-Dec-07
Written Documentation Governing Securities Forward Transactions -
update: 20-May-02
Recommendation of the Association Concerning Written Documentation Governing Securities Forward Transactions.
Revised Government Securities Trading Practice Guideline - last update: 17-Nov-97
The Primary Dealers Executive Committee of the Association has elected to revise the Government Securities Trading Securities Practice Guideline regarding when the cash government markets should go "subject." The revised guideline recommends that cash government markets should go "subject" only for discount rate changes, significant Fed Open Market Operations, and any other major event that is anticipated to have a significant effect on the government securities markets. The most notable change from the existing recommendation is that the cash market should stay "live" for Fed coupon passes and Fed bill passes.
Industry Associations Release Provider-Distributor Principles on Retail Structured Products
Five leading trade associations are jointly released a set of non-binding principles relating to retail structured products (the ‘RSP Principles’). They focus particularly on the management of the relationship between providers and distributors, from the perspectives of firms performing either function.
Equity Repo Guidance - Agreement (pdf)
Municipal Securities Market Forms
Model Bond Purchase Agreement Exposure Draft - September 2008
- Bond Purchase Agreement Terms and Acceptance
- Bond Purchase Agreement General Provisions and Conditions
- Purchase Agreement Instructions and Commentary
Municipal Master Agreement Among Underwriters Form
Master Agreement; Negotiated and Competitive Versions, 1997 and 2002
SIFMA Best Practices for NIIDS Testing and implementation for Underwrites of Municipal Securities - June 2008
Secondary Market Disclosure Filings - published: 30-Sep-02
All municipal secondary market disclosure filings (electronic or paper filings) can be made through the “central post office” operated by the Municipal Advisory Council of Texas (Texas MAC). DisclosureUSA is a one-stop conduit to meet an issuer’s filing requirements established by Rule 15c2-12. DisclosureUSA instantly transmits filings from issuers or their agents to NRMSIRs and SIDs, and filers receive receipts within seconds of submitting documents. DisclosureUSA also maintains a complete and accurate index of all documents filed, ensuring that the same documents will consistently be available at the repositories and improving the way the documents are indexed, making retrieval easier. See revised the generic Cover Sheet for muni disclosure filings.
Municipal Assessment Form - updated: 10-Aug-07
The Association's municipal assessment form is a pdf file that may be saved locally for your firm’s use. For more information, please see the municipal assessment's Frequently Asked Questions. If you have questions or would like a copy of the form in another format (Word or Excel), please contact Jessica Miller at jmiller@sifma.org.
Auction Rate Securities Model Documents - updated September 27, 2007
Best Practices for Broker-Dealers of Auction Rate Securities - published: 31-May-06
The exposure draft of the best practices addresses issues that arise in auctions of such securities, as well as trading between auctions. They were developed by a task force of traders, lawyers and compliance officers from the Association’s membership.
Standard Book-Entry-Only Disclosure Language - last update: 27-Jan-05
The Association has developed standard offering document language describing book-entry-only disclosure for taxable municipal finance transactions that may clear through Clearstream and Euroclear.
Muni Principles and Practices for Wholesale Financial Market Transactions - last update: 12-Dec-03
The Association reaffirmed adoption of the Principles and Practices for Wholesale Financial Market Transactions, created in 1995 by industry groups under the leadership of the Federal Reserve Bank of New York.
Public Finance Issuer Advisory: Mechanical Aspects of Municipal Bond Sale Practices - last update: 26-May-04
This memorandum is intended to advise state and local government bond issuers to review certain mechanical aspects related to their municipal bond sale procedures to ensure that local and state governments issue bonds in the most effective way possible.
Principles and Practices for Wholesale Financial Market Transactions -
last update: 6-Feb-99
Principles and Practices for Wholesale Financial Market Transactions.
Recommendations for Communicating with Beneficial Owners of Defaulted Municipals - last update: 28-May-98
3(c)(7) Securities Policies and Procedures - published: 21-Feb-03
- The Association Secondary Market Procedures (April, 2003)
- Law Firms' Memorandum and Revised Procedures for Book-Entry Deposit (February 2003)
Commercial Paper Dealer Agreements - published 4-Feb-04
For 3(a)(3) and 4(2) programs. Agreements Guidance Notes. Includes Global CP Dealer Agreement.
Guaranteed Commercial Paper Dealer Agreements - published 3-May-04
Model dealer agreements for guaranteed commercial paper issued pursuant to Sections 4(2) and 3(a)(3) of the Securities Act, designed to be used where one or more corporate guarantors are also responsible for the payment of principal and interest on the notes.