The Securities Industry and Financial Markets Association (Sifma) has established a new covered bond trade body, the European Covered Bond Dealers Association (ECBDA). The group, Sifma hopes, will emulate the European Primary Dealers Association (EPDA), which represents the interests of primary dealers in the European government bond markets.
Mark Austen, the EPDA's managing director, will fill the same role for the ECBDA.
"We want to do something positive to restore liquidity; activity in the sec
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