NY Fed adds two primary dealers

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The New York Federal Reserve has expanded its stable of primary dealers, adding MF Global, a broker-dealer and Société Générale Americas Securities, the US-based broker-dealer arm of the French investment bank.

The additions, which became effective on Wednesday, take the total number of primary dealers authorised by the New York Fed up to 20. "The new primary dealers will begin transacting with the New York Fed upon completion of legal, operational and technical set-up," Liberty Street said.

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