The BDA objected to the reproposed rule because the proposed rule is unnecessary, because it would still require broker’s brokers to determine a fair price, which is not their role, because the proposed system of parameters is unworkable and because it would treat ATS the same as voice broker’s brokers, which they are not. The BDA’s comment letter is available here. Also, see the Bond Buyer Article, dated November 7, 2011 here (subscription required.)
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