Market participants are eagerly awaiting a solution to the liquidity conundrum plaguing the corporate bond market, says TABB Group principal, Anthony Perrotta, director of fixed income research, in just-issued commentary. Execution venues are all posturing to bring forth the next big idea but now that we finally have a competitive environment in the electronic trading space in credit, all we need next is proactive and collaborative thought leadership from the investment community.
U.S. House of Representatives passed a $21.3 billion bill in a 228 to 195 vote to reduce funding for Wall Street oversight and to revamp new agencies dedicated to policing fraud against consumers and to keep risks under reins, Reuters reported. The Democrat-controlled Senate is not expected to approve the bill as it is now.
Commodity Futures Trading Commission issued a no-action letter stating that it will not take enforcement action against HKEx’s OTC derivatives clearinghouse OTC Clear, for its failure to register as a derivatives clearing organization.