Wunsch Proposes Spaworks For Primary Treasury Market

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Steve Wunsch, president of Wunsch Auction Systems Inc. (WASI), has written to the Treasury Department and the Securities and Exchange Commission proposing an automated Dutch-auction distribution system for Treasury securities. Wunsch's proposal would accommodate an expanded number of participants in the primary market and allow central surveillance through an electronic audit trail.

The proposal comes as officials of the Federal Reserve review the primary dealer system of Treasury security au