The AMF Tri-party Repo Working Group has drafted a recommended best practice for netting tri-party repo trades. Netting maturing trades against new transactions will be a requirement after the market constituents have implemented the new three way confirmation process. Initially the working group analyzed current netting practices and documented five options being used by asset managers to net today. For the best practice recommendation, these options were narrowed down to the two most common options: Account/Dealer net and Account/Clearing Bank net. The draft best practice recommendation is available for review here:

U.S. Tri-Party Repo Netting Best Practice DRAFT