Corporate Bond Market Transparency
Speaking in 2005, SEC Chief Economist Chester S. Spatt offered the following opinion on the transparency of corporate bond markets:
Frankly, I find it surprising that there has been so little attention to pre-trade transparency in the design of the U.S. bond markets. While some might argue that this is a consequence of the degree of fragmentation in the bond market, I would point to options markets and European bond markets-which are similarly fragmented, but much more transparent on a pre-trade basis.
A combination of mathematical and regulatory initiatives are aimed at addressing pre-trade transparency in the U.S. corporate bond markets.
Read more about this topic: Corporate Bond
Famous quotes containing the words corporate, bond, market and/or transparency:
“The corporate grip on opinion in the United States is one of the wonders of the Western World. No First World country has ever managed to eliminate so entirely from its media all objectivity—much less dissent.”
—Gore Vidal (b. 1925)
“It may comfort you to know that if your child reaches the age of eleven or twelve and you have a good bond or relationship, no matter how dramatic adolescence becomes, you children will probably turn out all right and want some form of connection to you in adulthood.”
—Charlotte Davis Kasl (20th century)
“A sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn’t know the market price of any single thing.”
—Oscar Wilde (1854–1900)
““End of tomorrow.
Don’t try to start the car or look deeper
Into the eternal wimpling of the sky: luster
On luster, transparency floated onto the topmost layer
Until the whole thing overflows like a silver
Wedding cake or Christmas tree, in a cascade of tears.””
—John Ashbery (b. 1927)