Research Corner
Tracking market movements and macro signals that impact our members, and the performance of businesses and consumers that our market supports
Search research pieces
SFJournal: Trading as a Service:Turning SP Trading Back into a Strategic Growth Engine for Banks
Post–Global Financial Crisis reforms increased the capital cost of holding credit risk, prompting banks to scale back capital-intensive trading activities. This paper introduces Trading as a Service (TaaS) as a complementary approach to the traditional dealer model, embedding more consistent, deal-specific market-making alongside investment banking. The framework seeks to improve liquidity, price transparency, and secondary support while better aligning trading and banking incentives within existing regulatory constraints.
Featuring
The SFA KnowledgeHub
SFA’s Research Corner beta release of the SFA KnowledgeHub, a flexible data platform created to acquaint non-members with pertinent information and provide members with swift access to vital industry data sources.
SFA Research Pieces
SFAcademy: The Bootcamp Series
January 20, 2025
The Structured Finance Association (SFA) has launched a new structured finance education program, the SFAcademy. Every other week, new content will be added to our inaugural Bootcamp Series. Our Modules are designed to introduce the fundamentals of securitization and various securitized asset classes through accessible explanations and real-life examples to practitioners of all levels.
Amount Funded By
Our Market
Total Securitizations Outstanding in Trillions (Year-End 2020)
Total 2022 YTD Private Market Securitization $745 Billion
In The News
SFA Response to the Federal Reserve Bank of New York’s Consultative Note on the Implications of Changes to GSE Ownership Structure
On Thursday, April 30, the Structured Finance Association (SFA) submitted a comment letter to the Treasury Market Practices Group (TMPG) of the Federal Reserve Bank…
AI Meets Securitization: From Data to Deal Structuring
Dallin Merrill, SFA’s Head of Policy, and Suhrud Dagli, CTO and Co-founder of RiskSpan, discuss how AI is being applied across securitization—from data management and…
What Really Drives Mortgage Rates? | Michael Bright with Ron Sion
In the latest Bright Ideas podcast, Michael Bright and veteran MBS investor Ron Sion break down what actually drives mortgage rates. Key takeaways: Mortgage rates…
Spring Homebuying Season Begins with Uneven Thawing
U.S. housing affordability has improved year over year across all 50 major markets, with buying power rising 10% nationally as the spring buying season begins….
March Job Gains Stronger Than Expected
According to the April 3 US jobs report, job growth rebounded in March with 178,000 new jobs added and the unemployment rate holding at 4.3%,…
