# Primary Dealers - Federal Reserve Bank of New York The Federal Reserve Conducts its open market operations through these "primary dealers." # References List of New York Fed [Primary Dealers](https://www.newyorkfed.org/markets/primarydealers#primary-dealers) [[Federal Reserve's buying and selling of securities]] # Primary Dealers - Federal Reserve Bank of New York >Note: These dealers can change periodically. Primary dealers are trading counterparties of the New York Fed in its implementation of monetary policy. They are also expected to make markets for the New York Fed on behalf of its official accountholders as needed, and to bid on a pro-rata basis in all Treasury auctions at reasonably competitive prices. ASL Capital Markets Inc. Bank of Montreal, Chicago Branch Bank of Nova Scotia, New York Agency BNP Paribas Securities Corp. Barclays Capital Inc. BofA Securities, Inc. Cantor Fitzgerald & Co. Citigroup Global Markets Inc. Daiwa Capital Markets America Inc. Deutsche Bank Securities Inc. Goldman Sachs & Co. LLC HSBC Securities (USA) Inc. Jefferies LLC J.P. Morgan Securities LLC Mizuho Securities USA LLC Morgan Stanley & Co. LLC NatWest Markets Securities Inc. Nomura Securities International, Inc. RBC Capital Markets, LLC Santander US Capital Markets LLC Societe Generale, New York Branch TD Securities (USA) LLC UBS Securities LLC. Wells Fargo Securities, LLC Clipped from [Primary Dealers - Federal Reserve Bank of New York - FEDERAL RESERVE BANK of NEW YORK](https://www.newyorkfed.org/markets/primarydealers#primary-dealers) at 2023-07-13.