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)
“They lived under a just and moderate government, and they admitted that one bond of their fidelity was that their rulers were the better men.”
—Titus Livius (Livy)
“Today the tyrant rules not by club or fist, but, disguised as a market researcher, he shepherds his flocks in the ways of utility and comfort.”
—Marshall McLuhan (1911–1980)
“Life is filigree work.... What is written clearly is not worth much, it’s the transparency that counts.”
—Louis-Ferdinand Céline (1894–1961)