ISDA published its first "Risk Free Rates Adoption Monthly Indicator." The new report tracks how much trading activity is being conducted "in cleared over-the-counter and exchange-traded interest rate derivatives that reference the identified risk-free rates in six major currencies."
A broker-dealer settled FINRA charges for failing to (i) transmit required reportable order events to the Order Audit Trail System and (ii) include complete and accurate information in required quarterly reports.
FINRA requested comment on proposed amendments to FINRA Rule 6730 that would require firms to identify corporate bond trades (i) where the trade price is based on a delayed Treasury spot trade, which is one that "was priced earlier in the day based on the spread to a U.S. Treasury Security" and (ii) that are within a larger portfolio trade.
FINRA and the national securities exchanges participating in the National Market System Plan Governing the Consolidated Audit Trail amended a previous request to the SEC for exemptive relief from certain reporting requirements.
At an SEC Fixed Income Market Structure Advisory Committee meeting, SEC Chair Jay Clayton and Commissioners Elad L. Roisman and Hester M. Peirce addressed issuers concerning rating agencies, bond pricing, trade transparency and internal fund crosses.