ATS Volume –Through the Looking Glass – Stepping Toward Transparency
BondWave introduces a new series titled Data Digest. As we explore and mine our extensive data library of the xed income marketplace, we frequently come across interesting patterns, observations, and new data. In the Data Digest series, we will begin to share what we discover with the xed income investing community.
Volume 1 explores the new ATS Indicator eld that the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB) recently added to their respective trade data feeds, Bond Trade Dissemination Service (BTDS) and Real-Time Transaction Reporting System (RTRS).