The Bond Market Association (TBMA)* provides comments to the Securities and Exchange Commission (SEC) on proposed interpretation of the application of the  National Association of Securities Dealers (NASD’s) mark-up policy to transactions in government and other debt securities, File No. SR-NASD-97-61.  TBMA believes that the
would provide market participants with useful guidance, if its recommendations were to be incorporated.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.