Fed Working on Capturing Non-Finra Banks' Treasury Trade Data
- Fed’s Powell comments at TMPG conference in New York
- Market participants have raised issue of incomplete data
Federal Reserve Governor Jerome Powell said the central bank wants to capture more data on trading in the $14.1 trillion Treasuries market, after regulators began gathering statistics on a limited group of transactions this year.
The most senior Fed official on markets regulation stressed at a Treasury Market Practices Group conference Thursday that the central bank is working on collecting data on Treasuries dealings from more banks, following the Financial Industry Regulatory Authority’s move in July to start assembling results for its members only. Market-makers and high-speed trading firms say the efforts don’t go far enough because they exclude non-Finra members in data collection through the bond-price reporting system, known as Trace.