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Stripping STRIPs Trading Activity

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Abstract

In March 2020, the Financial Industry Regulatory Authority (FINRA) began reporting aggregate trading volume for securities issued by the U.S. Treasury Department. The public data do not, however, include information about the trading activity of Separate Trading of Registered Interest and Principal of Securities (STRIPS). STRIPS are created from existing Treasury securities and offer risk management benefits, yield curve insights, and investment opportunities for a diverse range of market participants. In this post, we provide the first detailed analysis of STRIPS trading activity using FINRA’s Trade Reporting and Compliance Engine (TRACE) transactions data.

Suggested Citation

  • Michael J. Fleming & Or Shachar, 2026. "Stripping STRIPs Trading Activity," Liberty Street Economics 20260810, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:103628
    DOI: 10.59576/lse.20260810
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    File URL: https://libertystreeteconomics.newyorkfed.org/2026/08/stripping-strips-trading-activity/
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    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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