Slower cat bond trading last week, again focused on higher
2014/05/16 · Finra’s board adopted what became known as the “5 percent policy” based on a study conducted in 1943 to serve as a guideline of what’s an acceptable markup in bond trading.
Series 7 Bond Info Flashcards | Quizlet
We exploit the addition of a direction of trade var iable to FINRA's TRACE™ system to measure effective bid- ask spreads for corporate bonds.
2015 FINRA Enforcement Actions - Harvard Law School
The Trace system started in 2002, providing the first real- time data on most corporate bond trading to anyone with Internet access. Finra, which operates from Washington and New York, began last year disclosing daily market-level information culled from data on individual securitized-debt trades it had started collecting earlier.
2011 FINRA Year in Review and Annual Financial Report
A combination of market forces and low-interest monetary policy has driven masses of investors into government debt and the $3.7 trillion corporate bond market.
Advent of Trade Reporting for U.S. Treasury Securities
2017/05/12 · For a few quarters, it seemed as though the bond-trading business was back in force, with trading volumes accelerating to records on the heels of a flood of new debt sales and more uncertainty
TRACE Reports - FINRA
Specifically, with TRACE-eligible securities we are seeing increased trading on ATSs, greater use of request-for-quote processes, and more executions of customer orders on an agency or paired basis. Among the issues we should consider is how we can apply the principles of the national market system to TRACE-eligible securities.
FINRA CEO Robert Cook testifies about FINRA’s operations
2011/06/08 · Zions Direct Announces Corporate Bond Auction Results. Marketwire. June 8, 2011. FINRA's TRACE) The BondDesk Alternative Trading System (ATS), run by BondDesk Trading LLC, connects broker
TRACE and Reg ATS: the changing face of US Treasuries
Michael Fleming Greater transparency is coming to the U.S. Treasury securities market. Members of the Financial Industry Regulatory Authority (FINRA) will be required to report their trades in Treasuries using FINRA’s Trade Reporting and Compliance Engine (TRACE) starting July 10, 2017.
Bond Markups as Low as 3% Said Excessive to Finra in
The Alamo Re issuance from the Texas Windstorm Insurance Association (TWIA) has been one of the most actively traded bonds on the secondary market in recent weeks, making up over a third of trades recorded on US regulator Finra's Trace system since mid-February.
Revisiting Market Liquidity: The Case of U.S. Corporate
2015/01/19 · Secondary market catastrophe bond trades captured by FINRA’s TRACE system in the last week showed a trend towards lower pricing, especially for short-dated bonds which continue to …
Corporate Bond Trading Costs During the Financial Crisis
TRACE data provide detailed information on all secondary market transactions in the downgraded bond, including bond CUSIP, trade execution date and time, trade price and quantity, a buy or sell indicator, an indicator for agency or principal trade, and an indicator for inter-dealer trade.
Electronic trading: A key to achieving CDS reform - Risk.net
The introduction of FINRA’s TRACE reporting system for the corporate bond market resulted in a fairer, more competitive marketplace for all participants. Market transparency, greater competition and central clearing have in turn played significant roles in allowing the corporate bond market to recover from the crisis much more quickly than
FINRA to boost US gov't bond market transparency | Reuters
WHITE PAPER Corporate Bond Trading Costs During the Financial Crisis Peter Ciampi, Interactive Data Corporation Eric Zitzewitz, Dartmouth College June 2010 Abstract We exploit the addition of a direction of trade variable to FINRA’s TRACE™ system to measure effective bid- ask spreads for corporate bonds.
Zions Direct Announces Corporate Bond Auction Results
2018/03/28 · I've been asked many times in the last few days how to check Tesla's bond prices; the source is Finra's TRACE system and the link to pricing of Tesla' 5.3% notes due 2025 is here.
Summary of FINRA Regulatory Actions April – June 2017
FINRA is a not-for-profit organization authorized by Congress to protect America’s investors by making sure the broker-dealer industry operates fairly and honestly.
Introducing The Corporate Bond Investor | Seeking Alpha
effective, the operation of NYSE’s bond trading system, the “Automated Bond System” or “ABS,” was addressed in NYSE Rule 86 and identified by name in NYSE Rule 1400. In 2007, the NYSE replaced the ABS with a new bond trading facility, “New York
Transaction Costs, Trade Throughs, and Riskless Principal
Introducing The Corporate Bond Investor. Apr. 30, 2015 6:10 PM ET The bond prices used are for bond issues recorded by FINRA's TRACE system with at least $5 million in daily trading volume.
Wall Street Stirs Fears Of Bond Market Crisis In Push For
Transaction Costs, Trade Throughs, and Riskless Principal Trading in Corporate Bond Markets Larry Harris* across several electronic bond trading venues. Much bond market trading is now electronic, but the and bond trade price data from FINRA’s TRACE bond price reporting system, I
Financial Industry Regulatory Authority - Wikipedia
Electronic Corporate Bond Trading at the Crossroads. By Ivy Schmerken. While broker dealers are mandated to report their corporate bond transactions to FINRA’s TRACE system, there could be attempts to expand that transparency to pre-trade as with Europe’s MiFID II. As the ecosystem for electronic bond trading evolves, some buy-side
Electronic Corporate Bond Trading at the Crossroads
If adopted, the amendment would allow FINRA to disseminate information on transactions effected pursuant to Rule 144A under the Securities Act of 1933 (“Rule 144A”) through the Trade Reporting and Compliance Engine (“TRACE”), the principal trade-reporting system for fixed-income securities.
FINRA expands bond trade reporting system | Investment
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Hyperactive Bond Markets Hit a Trading Speed Bump - Bloomberg
FINRA/Nasdaq Trade Reporting Facility The FINRA Trade Reporting Facility (TRF) operated in partnership with FINRA/Nasdaq TRF is an automated trade reporting and reconciliation service operated on the Nasdaq ACT technology platform.
Zions Direct Announces Corporate Bond Auction Results
2015/02/23 · Trading of catastrophe bonds in the secondary market was a little slower last week, with just four bond trades recorded by FINRA’s TRACE system.
Bond Markup/Markdown Disclosure | Bates Group LLC
Prior to the financial crisis of 2007-2009, many people took market liquidity for granted. So, when the ability to convert assets into cash eroded, the issue became one of survival for some intermediaries. Today, both investors and regulators are focusing on “the ability to rapidly execute sizable s
SECURITIES AND EXCHANGE COMMISSION January 8, 2009 and
TRACE Quality of Markets Report Cards - Corporate Bond and Agency Debt The TRACE Quality of Markets Report Card for Corporate Bonds and Agency Debt is a monthly status report for corporate and agency transactions that a firm reported to the Trade Reporting and Compliance Engine (TRACE).
Where can I find information on corporate bond prices and
Bond Markup/Markdown Disclosure. transactions in which the firm is trading on a principal basis. The required disclosure would place the firm's markup or markdown on the customer confirmation and would also include a link back to FINRA's TRACE system so that the customer could see trade price data for that security. In the case of