Trace Makes Life Tough For US Junk Traders

French, Jeff
November 2005
Investment Dealers' Digest;11/7/2005, Vol. 71 Issue 42, p4
Trade Publication
The article explains that Trace, the National Association of Securities Dealers' (NASD) bond price reporting and dissemination system, has made it more difficult for investment dealers, particularly marginal players, in the U.S. to profit from the trading of high-yield bonds. This is because NASD limits markups and markdowns to five percent or less, and that they should be marked lower in most cases.


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