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Finance

What is a Bond Market Association?

By Ben Taylor
Updated May 17, 2024
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The Bond Market Association (BMA) was a professional organization, once called the Public Securities Association, that merged with the Securities Industry Association (SIA) in 2006. That merger formed the Securities Industry and Financial Markets Association (SIFMA). Before consolidating to form SIFMA, the BMA had headquarters in New York; Washington, D. C.; and London. The Bond Market Association coordinated transactions with governments, corporations and investors. Members of the Bond Market Association were expected to adhere to a code of ethics.

The BMA was a nonprofit, international association that represented approximately 200 firms that bought, sold and traded debt securities. The Bond Market Association also compiled statistics, tried to standardize market practices and served as an industry advocate to lawmakers and industry regulators. BMA members brokered United States government bonds, municipal securities, mortgage-backed securities and money-market securities.

As a part of SIFMA, former bond market association members in the U. S. have developed policies and practices that further the interests of hundreds of banks and private firms. Whereas BMA was an international organization, SIFMA is the U.S. chapter of the Global Financial Markets Association (GFMA). SIFMA addresses several issues that are pertinent to its members, including regulatory reform, savings and retirement, capital markets and bond markets.

SIFMA connects private banks and clients with legislation that affects bond markets and those who invest in them. Some legislation regulates how financial organizations handle funds and other securities. SIFMA has an annual bond summit to discuss legislation and regulation. The organization also issues reports that cover a variety of bond-related issues, including statistics and projections for future performance.

In addition to tracking current events, SIFMA provides its members with professional services, including a career center and a buyer's guide of products and services for executives in the industry. Members also have access to business continuity resources. In order to keep bond markets and other financial arenas liquid and transparent, SIFMA encourages its members to use standardized documentation and filing procedures.

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