The $38 trillion U.S. bond market needs to be improved to allow better access for all investors, said Securities and Exchange Commission member Elisse Walter.

"The more I look at it the more concerns about fairness I have," she said today at a series of roundtable discussions the agency is holding in Washington on fixed-income markets.

Walter sought to assure participants that the agency isn't trying to impose an equity-market structure on bonds with exchange trading and pre-trade price transparency. The challenge, she said, is for regulators to understand the complexity of how debt trades to discover what must be changed. "In this arena, I keep having to reassure people that we get it," she said.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.