Search results

1 – 3 of 3
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 25 September 2018

Andre Owens and Cherie Weldon

The purpose of this paper is to summarize the January 11, 2018, Fixed Income Market Structure Advisory Committee’s (“FIMSAC”) inaugural meeting held at the US Securities and…

74

Abstract

Purpose

The purpose of this paper is to summarize the January 11, 2018, Fixed Income Market Structure Advisory Committee’s (“FIMSAC”) inaugural meeting held at the US Securities and Exchange Commission (“SEC”).

Design/methodology/approach

This paper discusses the various topics covered at the inaugural FIMSAC meeting including the exploration of a variety of bond market liquidity issues, including the metrics for analyzing liquidity in the bond market and what these metrics mean for liquidity and dealer intermediation, electronic trading, exchange-traded funds (ETFs), transparency and potential policy responses to increase liquidity and the efficiency of the market.

Findings

The FIMSAC Chairman proposed the creation of subcommittees addressing modernization, fixed income ETFs and transparency.

Originality/value

This paper contains information on important topics raised by the fixed income market participants to the SEC and is helpful to all entities participating in the fixed income markets.

Details

Journal of Investment Compliance, vol. 19 no. 3
Type: Research Article
ISSN: 1528-5812

Keywords

Access Restricted. View access options
Article
Publication date: 2 November 2015

Bruce H. Newman, Cherie Weldon and Andre Owens

To explain a joint effort by the national securities exchanges to implement a Tick Size Pilot program. The pilot program would widen the minimum quoting and trading increments for…

6626

Abstract

Purpose

To explain a joint effort by the national securities exchanges to implement a Tick Size Pilot program. The pilot program would widen the minimum quoting and trading increments for certain small cap stocks.

Design/methodology/approach

The article reviews the Tick Size Pilot plan generally, discusses how the final plan differs from proposed plan, describes securities that will be affected by the plan, and the various test groups under the plan.

Findings

Pilot program is designed to provide the SEC with empirical data regarding the impact that tick size may have on the trading of small cap stocks.

Practical implications

Exchanges will be required to adopt rules to implement the pilot program. Broker-Dealers will be required to adopt written policies and procedures to comply with the pilot plan when quoting and for trading.

Originality/value

Practical guidance from experienced securities lawyers. The article describes the operation of the new pilot program.

Details

Journal of Investment Compliance, vol. 16 no. 4
Type: Research Article
ISSN: 1528-5812

Keywords

Available. Content available
Article
Publication date: 2 November 2015

Henry A Davis

232

Abstract

Details

Journal of Investment Compliance, vol. 16 no. 4
Type: Research Article
ISSN: 1528-5812

1 – 3 of 3
Per page
102050