NASD Set To Move On FIPS Planned Junk Bond System
EXCHANGES AND REGULATORS
The National Association of Securities Dealers is planning to proceed with a high-yield bond trading system whose design was outlined in a report published Sept. 6. A prototype of the proposed system has languished since July in NASD offices while its developers awaited direction from the Securities and Exchange Commission (SEC).
The report was prepared by the SEC in response to calls by the Senate Committee on Banking for greater transparency in the market for high-yield bonds, affectionately
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