SEC official defends delayed dealer registration rule

Regulator says market should be treated like equities, but PTFs warn it will harm market liquidity

SEC building in Washington DC
© jsmjr via Flickr

A US Securities and Exchange Commission official has defended a proposed rule that would expand the definition of Treasury securities dealers and potentially result in more firms having to register as such with the SEC.

At the US Treasury Market Conference hosted by the Federal Reserve Bank of New York on November 16, Haoxiang Zhu, director of the SEC’s division of trading and markets, said Treasury market participants aren’t being singled out.

“There are market participants who behave like

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