The Bond Market Association (TBMA, previously Public Securities Association or PSA until 1997) was the international

trade association A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific Industry (economics), industry. Through collabor ...

for the

bond market The bond market (also debt market or credit market) is a financial market in which participants can issue new debt, known as the primary market, or buy and sell debt security (finance), securities, known as the secondary market. This is usually in ...

industry, with its headquarters located in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

and offices in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

and

Washington, D.C. Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and federal district of the United States. The city is on the Potomac River, across from Virginia, and shares land borders with ...

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 coordinated 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 to form the Securities I ...

to form the

Securities Industry and Financial Markets Association A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...

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

{{reflist

External links

The Securities Industry and Financial Markets Association
Bond market Finance industry associations