Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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From: ggersh	3/30/2020 12:13:33 PM
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Bailout for Blackrock? wallstreetonparade.com According to the “ Terms of Assignment” the New York Fed released, BlackRock will be allowed to buy up its own corporate bond ETFs as well as those of its competitors. The only caveat in the contract is this concerning the Fed’s Secondary Market Corporate Credit Facility (SMCCF): “BlackRock will treat BlackRock-sponsored ETFs on the same neutral footing as third-party ETFs. All ETF transactions will be effected through intermediaries at market prices on a best execution basis, whether in the secondary market or via primary creations and redemptions. If the share of the SMCCF’s holding of BlackRock-sponsored ETFs exceeds or is expected to exceed the then-current market share of BlackRock-sponsored ETFs in the corporate bond ETF market on average over a given calendar month, BlackRock will notify the New York Fed for review and consultation. The New York Fed may direct portfolio adjustments at any time.”

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