Goldman, BAML back Trace reporting changes
Banks are pushing for 48-hour delay in reporting large corporate bond trades
A proposal to change the reporting standards for US corporate bonds has the backing of senior figures at Goldman Sachs and Bank of America Merrill Lynch (BAML).
In April, an advisory group convened by the US Securities and Exchange Commission recommended delaying the public dissemination of certain corporate bond trades via the Financial Industry Regulatory Authority’s Trade Reporting and Compliance Engine (Trace).
Under the proposal, investment grade and high yield bond trades exceeding $10
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