The BDA’s most recent episode of Bonding Time features a discussion with Jose Fernandez, Jeff Gearhart, and Bob Mooney of Oyster Consulting. The podcast, hosted by Michael Decker of BDA, covers: Preparing for T+1 clearing and settlement Best execution and the SEC’s new proposal FINRA Rule 4210 and margining “extended settlement” trades The latest on…
Author: Bond Dealers of America
Bond Pricing Index Handbook 2023
Bonding Time: A Discussion with Tom Kozlik of Hilltop Securities on Rates and Issuance in 2023
The BDA’s most recent episode of Bonding Time features a discussion with Tom Kozlik of HilltopSecurities. The podcast was led by Brett Bolton of the BDA and covers: The Fed likely staying the course over first half of 2023 and its impact on Hilltop’s issuance prediction Municipal credit outlook and the potential need for lifelines…
BDA opposes FINRA delayed Treasury spot trades proposal
BDA today filed a comment letter with FINRA in opposition to their proposal to amend TRACE trade reporting rules for delayed Treasury spot trades, secondary corporate bond trades where the spread to Treasuries is established early in the day but where the Treasury spot takes place later in the day at an agreed upon time. Under current…
BDA opposes FINRA delayed Treasury spot trades proposal
BDA today filed a comment letter with FINRA in opposition to their proposal to amend TRACE trade reporting rules for delayed Treasury spot trades, secondary corporate bond trades where the spread to Treasuries is established early in the day but where the Treasury spot takes place later in the day at an agreed upon time. Under current…
BDA submits letter on MSRB Rule G-32 changes
BDA today provided comments to the MSRB on its proposal to amend MSRB Rule G-32 related to information reporting for municipal new issues. BDA generally supports the proposal. The MSRB has proposed to amend Rule G-32 to streamline the submission of new issue data on Form G-32. Under the proposal, underwriters would be required to submit certain…
Bonding Time DC Update – A Discussion with GFOA on the 2023 Legislative Outlook for Municipal Bonds
The BDA’s most recent episode of Bonding Time features a discussion with Emily Brock of the Government Finance Officers Association. The podcast was led by Brett Bolton of the BDA and covers: Current Status of the Omnibus budget and potential impacts to direct-pay bonds Amended Version of the Financial Data Transparency Act and its Impact…
Bonding Time with Solve
The monthly podcast of the Bond Dealers of America focusing on technology and bond market structure features leadership from BDA member firm Solve.
SEC extends 15c2-11 relief for two years
SEC staff today issued a revised no-action letter in regard to SEC Rule 15c2-11 and fixed income products. Today’s release effectively extends the 2022 treatment of fixed income products under Rule 15c2-11 for an additional two years. Under today’s no-action letter, signed by Josephine Tao, Assistant Director of the SEC’s Division of Trading and Markets, SEC staff…
SEC approves BDA-supported change to shorten corporate syndicate settlements
We are pleased to inform you that the SEC announced yesterday that they have approved FINRA’s proposal to shorten the syndicate settlement time for corporate bond underwritings. This approval successfully culminates three years of BDA advocacy around this issue. The FINRA change approved by the SEC yesterday amends FINRA Rule 11880, Settlement of Syndicate Accounts. The Rule currently…