TAAPS Program — TreasuryDirect

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<main id="main"> <section> <div class="section-container container-xxl"> <nav class="breadcrumb-container" aria-label="breadcrumb"> <ol class="breadcrumb"> <li class="breadcrumb-item"><a href="/auctions/">Auctions</a></li> <li style="padding-left: 0.2rem;">TAAPS Program</li> </ol> </nav> <div class="body-copy"> <h1>TAAPS – Treasury Automated Auction Processing System</h1> <p>Only institutional investors (not individuals) may have a TAAPS account. A TAAPS account gives you direct access to U.S. Treasury auctions. With TAAPS, you can buy Treasury marketable securities without an intermediary. The system receives and processes your auction bids electronically. Therefore, you may reduce or eliminate intermediary costs, bringing direct bidding to your desktop.</p> <h2>Setting up your TAAPS account</h2> <ol> <li style="margin-bottom: 1rem">Fill out these forms:<br> - <a href="/forms/FSForm5441.pdf" target="_blank" rel="noreferrer noopener">Submitter Agreement</a> for your institution<br> - <a href="/forms/FS5441-3E.pdf" target="_blank" rel="noreferrer noopener">Autocharge Agreement</a> if your institution doesn't already have both a securities account and a fund account in the Federal Reserve system.<br></li> <li>Mail the completed forms to:<br> The Federal Reserve Bank of New York<br> Attention: Treasury Auction Staff<br> 33 Liberty Street - 9th Floor<br> New York, NY 10045</li> </ol> <h2>Following the rules for Treasury auctions</h2> <p>All institutions that participate directly in Treasury auctions must abide by the Auction Rules for the Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds (31 CFR Part 356, as amended) set forth in the <a href="/laws-and-regulations/auction-regulations-uoc/">Uniform Offering Circular</a>.</p> <h2>If you have comments, questions, or concerns</h2> </div> <div class="media iconandtext"> <img class="w-line-height h-line-height mr-2" src="/images/content-icons/icon-envelope-blue.svg" alt="" > <div class="media-body"> <div class="negate"> <div class="consume"> <h3><a href="/contact-us/">E-mail us</a></h3> </div> </div> </div> </div> <div class="media iconandtext"> <img class="w-line-height h-line-height mr-2" src="/images/content-icons/icon-phone-green.svg" alt="" > <div class="media-body"> <div class="negate"> <div class="consume"> <h3>202-504-3550</h3> <p>8 a.m. – 5 p.m. U.S Eastern Time<br> Monday through Friday</p> </div> </div> </div> </div> </div> </section> <button type="button" class="btn btn-td-blue scrollButton d-print-none" onclick="topFunction()" id="myBtn" title="Back to Top" style="display: none; 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TAAPS Program — TreasuryDirect