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

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