Washington, D.C.— MFA supported the Financial Industry Regulatory Authority’s (FINRA) proposal to disseminate information on individual on-the-run Treasury securities transactions in a comment letter today.
MFA’s letter endorses efforts by FINRA to expand the public dissemination of information about Treasury transactions, subject to certain dissemination caps, noting that the proposal represents an important step in increasing transparency in the Treasury markets.
“FINRA’s efforts to increase transparency in the Treasury markets will benefit all market participants by enhancing liquidity, lowering cost, and fostering more efficient markets,” said Bryan Corbett, MFA President and CEO. “We encourage FINRA to continue engaging in rulemakings that further reduce reporting timeframes and expand public reporting to include off-the-run Treasuries.”
MFA’s letter commends FINRA for its proposal but recommends that FINRA provide additional information regarding its methodology for calculating dissemination cap sizes.
The letter also encourages FINRA to expand public transaction-by-transaction reporting of other categories of Treasury securities. Additionally, the letter expresses support for moving from end-of-day to closer to real-time reporting of transactions
Read the full comment letter here.
About the global alternative asset management industry
The global alternative asset management industry, including hedge funds, credit funds, and crossover funds, has assets under management of $5.5 trillion (Q3 2023). The industry serves thousands of public and private pension funds, charitable endowments, foundations, sovereign governments, and other global institutional investors by providing portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets.
Managed Funds Association (MFA), based in Washington, DC, New York, Brussels, and London, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 175 member fund managers, including traditional hedge funds, credit funds, and crossover funds, that collectively manage over $3.2 trillion across a diverse group of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors to diversify their investments, manage risk, and generate attractive returns over time.