CIO Swaps Advisory Committee to be Established

As a follow-up to the AMF Swaps Conference on July 26, 2005, the Senior Executives Group of The Asset Managers Forum is forming a CIO Swaps Advisory Committee. This Committee would be comprised of approximately 10 CIOs or Co-CIOs of major asset management firms who would meet quarterly with senior executives of SEG or AMF member firms to assure that industry-wide swaps processing activities are in sync with the views of CIOs.


Please contact Joseph Sack, Executive Vice President of The Bond Market Association, if your firm is interested in participating in this new initiative. The Bond Market Association, SEG and the AMF are grateful to Raymond Iwanowski, Co-CIO at Goldman Sachs Asset Management, for his articulate remarks at the above mentioned Conference. Mr. Iwanowski helped Conference attendees bridge the gap between portfolio management and operations by virtue of his July 26th presentation.


Mr. Sack's details are jsack@bondmarkets.com, 646.637.9265. Thank you for your cooperation.


Click here to view and print the Draft AMF Swaps Best Practices White Paper.


Buyside Firms Invited to Participate in Business Continuity Test

On October 15, 2005, The Bond Market Association will conduct a business continuity test which is designed to test connectivity between and among back-up facilities. This test will verify that firms, markets, utilities, ATSs, electronic brokers and clearing banks are able to operate and communicate through an emergency using back-up sites, recovery facilities and back-up communications. The Securities Industry Association, the Futures Industry Association, DTCC, SIAC and other organizations have coordinated their efforts on this industry-wide test with The Bond Market Association.


In order for this test to be "industry-wide", buyside participation is critical. Asset management firms that trade through ATSs such as Bloomberg, BondDesk, MarketAxess, The MuniCenter, Thomson TradeWeb or interdealer brokers such as ICAP or eSpeed or others are encouraged to participate in the test on Saturday, October 15. Please contact Joseph Sack of The Bond Market Association for more information or to volunteer.


For the fixed income segment, the test will include Municipals, Corporates, Treasuries/Agencies and Mortgages. Participating firms will be composed of a team of diverse backgrounds including operations, compliance, IT and BCP professionals.


Upcoming Roundtable with MSRB on Step Out Trade Reporting

The Municipal Securities Division Operations Committee of The Bond Market Association and the MSRB have identified concerns relating to the reporting of "step out" transactions. MSRB Staff has agreed to facilitate a roundtable meeting of the broker dealer community and the buyside community to discuss the reporting of "step out" trades. Members of The Asset Managers Forum are encouraged to participate. A step out trade typically involves a transaction that has been recommended by an investment adviser in connection with wrap accounts or other similar arrangements and is processed by a broker/dealer. Please see meeting details below:



For background, please read an MSRB Notice reminding dealers of trade reporting procedures with respect to "step outs" by clicking here. Your attendance in person is requested. However, a conference call option is available for those not able to join us in person. If you have any questions, please contact Leslie Norwood of The Bond Market Association at 646.637.9230 or e-mail at Lnorwood@bondmarkets.com