Fixed Income Market Structure Advisory Committee — Corporate Bond Transparency Subcommittee
Summary Minutes of October 5, 2018 Call
The Corporate Bond Transparency Subcommittee held a call on October 5, 2018 to discuss pre-trade transparency in the corporate bond market.
The call convened at approximately 1:00 p.m. via telephone. The following Subcommittee Members were on the call:
- Dan Allen
- Gilbert Garcia
- Tom Gira
- Larry Harris
- Scott Krohn
- Amar Kuchinad
- Rick McVey
- Sonali Theisen
- Mihir Worah
- Michael Heaney
The following staff from the Division of Trading and Markets were on the call:
- Elizabeth Baird
- Ben Bernstein
- David Dimitrious
- Tom Eady
- Michael Gaw
- Patrick Norton
- Justin Pica
- Heidi Pilpel
- Ted Uliassi
The following staff from the Office of Municipal Securities were also on the call:
- Ahmed Abonamah
The following staff from the Division of Economic and Risk Analysis were also on the call:
- Louis Craig
- Abby Kim
The Subcommittee discussed whether market participants could be incentivized to provide pre-trade transparency by either protecting executable quotes or delaying TRACE dissemination for transactions where, among other conditions, there is an executable bid and offer in that security being disseminated by a registered Securities Information Processor (“SIP”).
The Subcommittee also discussed the input on retail corporate bond market conditions provided by several market participants on the last Subcommittee call.
The call concluded at approximately 2:00 p.m.