Bank of America is currently facing major changes to their mortgage trading floor. FINRA has proposed their reporting system, Trade Reporting and Compliance Engine (TRACE), to be implemented in May of 2011 which requires firms to report information on all trades of Mortgage-Backed Securities. Because of these new requirements, Bank of America has needed to assess their current state at the desks and determine what alterations will need to be made before TRACE goes live. The goal of this project was to study the TRACE documents provided by FINRA, evaluate the workflow of the desks, provide detailed summaries and maps created from those studies, and supply recommendations for change which will further them in their goal of meeting the regulation requirements.

• This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.

Creator

• Herries, Emily S
• DeLew, Jacob C

Publisher

• Worcester Polytechnic Institute

Identifier

• E-project-010511-232605

Advisor

• Gerstenfeld, Arthur
• Wang, Tsung-Yi

Year

• 2011

Center

• Wall Street-FinTech Project Center (Boston or New York) - MQP

Sponsor

• Bank of America

Date created

• 2011-01-05

Resource type

• Major Qualifying Project

Major

• Industrial Engineering
• Management Engineering

Rights statement

• In Copyright