MUFG Securities Americas ( MUSA ), the registered broker-dealer of Japanese lender Mitsubishi UFJ Financial Group ( MUFG ), has been designated a primary dealer by the Federal Reserve Bank of New York ( New York Fed ).

In this capacity, MUSA will act as a trading counterparty with the New York Fed, participating in open market operations, supporting US treasury securities at auctions and providing market intelligence and analysis to the Open Market Trading Desk at the New York Fed.

To qualify for this designation, MUFG – one of the 10 largest global financial groups, according to S&P Global Market Intelligence – was required to demonstrate a substantial presence as a market maker and to operate a back office capable of supporting settlement at volumes expected by the New York Fed, among other requirements.

“The primary dealer designation underscores MUFG’s financial strength, global reach and long-term commitment to the US,” says Mike Yarian, the lender’s head of global markets sales and trading ( ex-Japan ), “here MUFG has been a significant investor for more than 140 years.”