New rules on electronic trading in fixed-income markets cannot be counted on to boost volumes or improve liquidity, say fund managers.
The US Securities and Exchange Commission’s move to establish a new fixed-income market structure advisory committee is widely seen as a first step towards formulating new regulations governing the asset class, such as a national best bid and offer (NBBO) rule for corporate bonds.
“I think the SEC is bothered by the fact that in equities, if one stock exchange
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