The Bond Market Association (TBMA, previously Public Securities Association or PSA until 1997) was the international
trade association for the
bond market industry. It had headquarters in
New York City and offices in
London and
Washington, D.C. Twenty per cent of the membership was located outside the United States, while 70 per cent was located outside New York City. TBMA acted as a global voice for bond issuers and traders, and co-ordinated with governments, corporations, and investors. It also had a code of ethics, which required members to behave in a fashion of fairness. On November 1, 2006, The Bond Market Association merged with the
Securities Industry Association
The Securities Industry Association (SIA) was an association of firms and people who handle securities (in the financial sense) (stocks, bonds and their derivatives). In 2006, it merged with the Bond Market Association The Bond Market Associat ...
to form the
Securities Industry and Financial Markets Association.
Subprime mortgage role
TBMA marketed informational publications on the subject of
CMOs. Early versions of its booklet "An Investor's Guide to Collateralized Mortgage Obligations (CMOs)" failed to include
credit default among the risks to CMO investors.
[An Investor's Guide to Collateralized Mortgage Obligations (CMOs). The Bond Market Association. 2001.]
Notes
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External links
The Securities Industry and Financial Markets Association
Bond market
Finance industry associations