Regulating Electronic Bond Trading Platforms

The SEC's Fixed Income Market Structure Advisory Committee (FIMSAC) has proposed a working group to review the requirements for regulating electronic corporate bond platforms. But there isn't just one corporate bond market, there are at least two: a liquid segment and an illiquid one. Beyond that, there are many types of platforms, which are evolving all the time. This Market Note will look at the many segments of the market, many types of platforms and many regulatory questions to be answered, as the FIMSAC gears up for this major effort.