BMA’s Trace Panel Debates Methods

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The NASD’s TRACE corporate bond trade data should be listed by spread rather than by price, agreed two panelists at last week’s Bond Market Association’s Fixed Income Summit and Expo on Technology and Electronic Trading. However, the pair disagreed about the repercussions of the upcoming expansion of TRACE to complete coverage of corporate bonds.

"The problem with TRACE," said Lee Sterne, portfolio manager at Barclays Global Investors (BGI), "is that it is delivered in dollar price. The sprea

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