Please contact Jen Elmi at jelmi@bdamerica.org to RSVP or for additional information.

Please contact Jen Elmi at jelmi@bdamerica.org to RSVP or for additional information.

This event is tied to BDA’s National Fixed Income Conference.

Co-hosted with the MSRB

The Bond Dealers of America wrapped up its Fourth Annual National Fixed Income Conference this year in Chicago, Illinois on October 11 & 12. This year, the conference had a record 271 attendees and exhibitors. All attendees experienced featured speakers, a Municipal Market Compliance Seminar co-hosted by the MSRB and networked with other industry professionals.

Prior to the Conference kick-off, BDA hosted a Roundtable focused on issues facing Fixed Income Legal & Compliance, which was attended by over 15 dealers and moderated by Brian Pearce of Wells Fargo Advisors. A detailed summary of this Roundtable will be circulated soon to BDA member firms.

At the National Fixed Income Conference, attendees heard from:

• Robert Cochran, Managing Director and Chairman of the Board and Seán McCarthy, Managing Director and CEO, Build America Mutual Assurance Company
• Rick Ketchum, Chairman and CEO, FINRA
• Amy Laskey, Managing Director, U.S. Public Finance Group, Fitch Ratings. Presentation can be found here.
• Maria Ramirez, President and CEO, Maria Fiorini Ramirez, Inc. Presentation can be found here.
• Tom Ricketts, Chairman, Chicago Cubs

Municipal Market Seminar on Regulation, Compliance and Enforcement Panel which included:

• Allyson B. Dodd, Field Operations Group Manager, Office of Tax Exempt Bonds, IRS
• Karen Du Brul, Associate General Counsel, MSRB
• Cynthia M. Friedlander, Associate Director of Fixed Income Regulation, Sales Practice Policy Department, FINRA
• Kathleen Miles, Associate General Counsel, MSRB
• Larry Sandor, Senior Associate General Counsel, MSRB

A Heads of Fixed Income Panel discussion featuring:

• Larry Bowden, EVP and Head of Fixed Income, Stephens, Inc.
• Tom Dannenberg, President, Hutchinson Shockey Erley & Co.
• Steve Genyk, Managing Director and Head of Fixed Income Capital Markets, Janney Montgomery Scott
• Dan Leland, Executive Vice President, Southwest Securities
• Jim McKinney, Head of Debt Capital Markets, William Blair
• Marty Vogtsberger, Senior Vice President & Managing Director, Fifth Third Securities

A Washington Update Including Federal Tax Reform by:

• Susan Collet, Senior Vice President, Bond Dealers of America
• Ellen Marshall, Principal, Marshall & Company
• Mitch Rapaport, Partner, Nixon Peabody

A panel discussion on the View from the Fixed Income Buy-side featuring:

• David Griewe, Senior Vice President and Treasury Director, MB Financial
• John Miller, Managing Director and Co-Head of Fixed Income, Nuveen Asset Management
• Brad Winges, Head of Fixed Income Sales and Trading, Piper Jaffray
• Bob Zubak, Head of Fixed Income, Allstate

A discussion on Shifting Dynamics in the Taxable Bond Market and the Future of Electronic Trading by:

• John Bagley, President, BondDesk Trading
• John Cahalane, Managing Director, Tradeweb Retail
• AJ Maggio, Vice President, Fixed Income Trading, Southwest Securities
• Richard McVey, CEO, MarketAxess
• Marshall Nicholson, Managing Director, Knight BondPoint
• Jim Toffey, CEO, Benchmark Solutions
• Tom Vales, CEO, TMC Bonds

The Conference was a huge success by bringing a record number of dealers together to focus on business, market, regulatory and legislative challenges facing the US fixed income markets.

For more information on on any BDA events or the BDA generally please contact Mike Nicholas in the BDA’s DC office at 202.204.7901 or mnicholas@bdamerica.org.

Thank you to our sponsors of this event:

Bloomberg TOMS

The Bond Buyer

BondDesk Group, LLC

Broadridge Financial Solutions

Knight BondPoint

Tradeweb Retail

Co-hosted with the MSRB and coordinated with St. Louis Muni Bond Club Outing.  To view an agenda, please click here.

To view a detailed agenda, click here.

To view a detailed agenda, click here.

To register for this conference, please click here.

Co-hosted with Thomson Reuters’ IFR

Please contact Jen Elmi at (202) 204-7903 to RSVP or for more information.

The Bond Dealers of America held its 2012 Strategy Session for Members on Friday, February 10 at the Grand Del Mar Resort in San Diego, CA.

At the Strategy Session, over two dozen key contacts at BDA member firms discussed federal advocacy priorities, conferences and events, BDA internal and external structure and goals for the BDA by 2015. Many issue areas were discussed but a small selection of those were determined to be the top priority issues for 2012, as described below in the summary.

BDA welcomed 5 new members to its Board of Directors:

• John Crawford, Vining Sparks IBG
• Cindy Higgins, Comerica Securities, Inc.
• Noe Hinojosa, Estrada Hinojosa & Company, Inc.
• Mark Salter, National Alliance Securities
• Marty Vogtsberger, Fifth Third Securities, Inc.

FY 2012 BDA Board Executive Committee was approved:

• Chair: Larry Bowden, Stephens Inc.
• Vice Chair: Craig Noble, Wells Fargo Advisors
• Treasurer: Maud Daudon, Seattle-Northwest Securities Corporation

Summary of Strategy Session:

Identification of priorities for 2012, including issues such as tax reform, regulatory & legislative items, media & events, and association growth.

The Legislative & Regulatory update consisted of discussion of strategy for outreach, grassroots efforts and internal BDA Committee development.

BDA Priority Issues for 2012:

• Federal Tax Reform and implications for the municipal market
• TRACE expansion to structured products
• Proposal to impose a Fiduciary Standard on retail broker dealers
• Definition of Municipal Advisor and regulation of non-dealer muni financial advisors
• Bank-Qualified Bonds
• Market Access Rule
• Volcker Rule
• BABs Issue Pricing

Items discussed included the above priority items and more, described below:

• Lack of a definition of municipal advisor from the SEC.
• Point of sale disclosure and lack of clarity from FINRA
• Taxable issues including TRACE reporting
• Concern with the potential for elimination of the muni tax exemption in the President’s 2013 budget.
• Volcker rule – implications for principal trading at middle market, bank affiliated dealers
• Bank Qualified Bonds – watching the House and Senate closely especially the Senate transportation bill.
• Fiduciary standard for retail BDs
• Markups/markdowns
• BABs Issue Price

Featuring the SEC, FINRA and the MSRB.

Hosted by the MSRB and BDA

Please RSVP to Jen Elmi or call (202) 204-7903.  To view an agenda for this event, please click here.

The BDA, in partnership with The Bond Buyer, has published a booklet chronicling this roundtable. Over 30 fixed income leaders were present for the three hour roundtable discussion, which was sponsored by BDA member firms Broadridge, Knight BondPoint, and Tradeweb Retail.

A copy of the PDF version of the booklet can be found here.

Hosted by the MSRB and BDA.

BDA held its Third Annual National Municipal Bond Summit in Miami Beach, Florida, March 30-April 1. View a video of summit highlights: