Hello…and thanks for visiting “Shopyield”. The focus of this blog is to detail the development of the fixed income markets for retail investors.
We want to discuss infrastructure and systems here…maybe dish a little about the competition (I’m sure they are all quite nice folks…). But the overarching purpose is to figure out how to design and build the best tools for getting information and platforms to every US investor who might be interested in buying fixed income securities. There is potential to grow an enormous market.
Cate Long is the founder of Multiple-Markets and has worked for a number of years to help build a foundation for the expansion of the fixed income markets to support retail investors. Her work relates to three primary areas;
== FIX - this is the industry standard for the electronic trading of securities;
== The new regulatory framework for Nationally Recognized Statistical Rating Organizations (NRSROs …also known as credit rating agencies);
== And the development and patenting of a system to present fixed income data, offer securities for sale and manage portfolios of securities.
OK…let’s get busy and build the systems that will make a retail fixed income market possible. (Actually I’ve been busy for a number of years on this issue…) I’m broadening out my circle to develop a company, recruit talented people and get this moving.
If building a new market is interesting to you please contact me…you might have the right skills and desire and passion to help launch a new market. I have a feeling it could be an interesting ride.
Comments and suggestions are welcome…
Cate Long
(cate (at) multiple-markets. com)
Phone: 888-752-0900
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Here are some resources to explain Cate’s work and understand more about the developing infrastructure of this new market:
FIX - The standard for electronic trading of fixed income securities -
>> The FIX Guide, which can be purchased at Amazon, was co-edited by Cate and is a good overview of using FIX for the electronic trading of fixed income.
>> Introduction to FIX for fixed income (PPT file)
>> FIX in the fixed income markets (PDF file giving some details on FIX in the fixed income markets)
>> FIX Implementation Guide (early version of the FIX Guide on the FIX Protocol website)
The new regulation of rating agencies and how credit risk information is systemized and presented -
>> Cate’s initial comments to the SEC regarding credit rating agencies
>> Cate’s second round of comments to the SEC, June 2005
>> Cate’s comments to the Ranking Member of the House Financial Services Committee
>> The new law regarding rating agencies which was approved by Congress and signed by President Bush - The Credit Rating Agency Reform Act of 2006
>> Cate’s comments on the final round of rulemaking at the SEC regarding credit rating agency (NRSROs) regulations.
Other regulatory issues:
>> Cate’s comments to the SEC regarding the new NYSE Bonds platform.
>> Cate’s comments to the NASD re confirmations of debt transactions.
>> Backgrounder for Members of the House Financial Services Committee - Preparing American investors for a safe retirement
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“I said to the man who stood at the Gate of the Year, ‘Give me a light that I may go safely out into the darkness.’
And he replied, ‘Go out into the darkness and put your hand into the hand of God.
That shall be more to you than a light and safer than a known way.”
