Citadel, Virtu Tell SEC Treasuries Plan Won’t Go Far Enough
- Public dissemination, real-time reporting are topics of debate
- Feedback comes in responses to SEC request for comment
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Citadel LLC, KCG Holdings Inc. and Virtu Financial Inc. are among firms with a message for the U.S. Securities and Exchange Commission: Regulators’ plan to shed more light on dealings in the $13.4 trillion Treasuries market needs to be more comprehensive.
The high-speed trading firms’ feedback came in response to the SEC’s request for comment on a proposal by the Financial Industry Regulatory Authority that would require its members to report Treasuries trades for officials to use. The plan is part of an attempt to improve transparency in the world’s biggest bond market following an episode of unusual volatility in October 2014.