One-Minute Bond Trade Reporting Within Reach for Most Brokers

A new one-minute reporting deadline for bond trades and other fixed-income transactions sparked a legal challenge from a powerful securities industry group, but most broker-dealers should have no problem meeting the shortened time frame, pared down from 15 minutes.

The American Securities Association, representing regional financial services firms, filed a petition last month targeting the truncated window for bond trade reporting and seeking review by the US Court of Appeals for the Eleventh Circuit.

The regulatory change—proposed by the Financial Industry Regulatory Authority as a way to increase transparency in bond markets—could have adverse effects on investors and the market ...