BMA fears threat to liquidity from Trace


As the National Association of Securities Dealers (NASD) seeks to begin reporting over-the-counter trades of more than $1 million on illiquid bonds, the Bond Market Association (BMA) has expressed concerns over the impact that this may have on the market for these securities.

In a letter to financial regulator, the Securities and Exchange Commission, the BMA said, “Our membership continues to have serious concerns about the potential harm to liquidity resulting from rapid dissemination of tra

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