FINRA Launches New Data On Treasuries Trading
FINRA for the first time posted weekly, aggregate data on the trading volume of Treasury securities reported to TRACE®, FINRA’s Trade Reporting and Compliance Engine®.
Just in: Today we posted weekly, aggregate data on the trading volume of Treasury securities reported to TRACE for the first time. Learn more: https://t.co/MbkkLmqSn5
— FINRA (@FINRA) March 10, 2020
The new Treasury Aggregate Statistics report provides trading volume in U.S. Treasury securities reported to TRACE for the prior week. The information is aggregated by Treasury security subtype: bills, floating rate notes (FRN), nominal coupons, and Treasury inflation-protected securities (TIPS). The data are further grouped into two categories: alternative trading system/interdealer transactions, and dealer-to-customer transactions.
For nominal coupons and TIPS, the report also shows remaining maturity and on-the-run/off-the run buckets.
Securities firms began reporting Treasury transactions to FINRA in July 2017, with the goal of providing regulators and policymakers with additional information to increase understanding and enhance surveillance of this bellwether market.
”Publishing this important data will increase transparency for the benefit of investors and other market participants,” said Thomas Gira, Executive Vice President, Market Regulation and Transparency Services. “We look forward to continue working with the Treasury Department, the SEC and the Federal Reserve Board to advance market transparency and sound oversight and policymaking.”
Electronification of the municipal bond market also presents a large opportunity.
The success of Northbound trading showed electronic execution is way forward for the bond market.
Investors will be able to better assess the economic stability and creditworthiness of issuers.
Nivaura has named a new CEO and Liquidnet Primary Markets is launching.
The platform is simplifying the primary issuance process for fixed income.