NASD's Portal To Be Altered For Junk Bond Market
THIS WEEK'S LEAD STORIES
Joseph Hardiman, president of the National Association of Securities Dealers, says that a centralized system for pricing high-yield bonds to be designed by the NASD could be operable by the end of the year, and that a prototype should be available as early as three months from now.
Earlier this month, the Securities and Exchange Commission sent Hardiman a letter formally requesting that the NASD explore whether any of its existing systems could serve as a centralized price reporting mechanism
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