Bloomberg Launches Broker-dealer Quotation Transparency Product for Fixed Income

Bloomberg has launched a new a quotation transparency product for broker-dealers operating in the fixed income markets. The product will provide broker-dealers with information that can be integrated into their compliance program to help identify fixed income securities that may be impacted by the SEC Rule 15c2-11. The amendments to SEC Rule 15c2-11, made in October 2020, require broker-dealers to review certain current and publicly available information about an issuer of a security not listed on a US exchange prior to initiating or resuming quotations for the security through a quotation medium. The quotation transparency product provided by Bloomberg will offer attributes to broker-dealers which may help them to determine whether a security can still be quoted through an OTC quotation medium under SEC rules. According to Bloomberg, the attributes can be integrated easily into a broker-dealer’s legal and compliance team’s own policies and procedures and were developed in response to market demand.