Proposed guidelines for quotation and trading of U.S. government agency debt securities that contain a "European-style" call option have been released by The Bond Market Association.The association said the draft guidelines were designed to allow market participants to more quickly quote and trade the securities and "compare securities offered on different trading platforms using a single yardstick." The European-style call option, which is used globally, is generally a one-time option to call in and retire a security on a specific date.
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