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Trace price reporting expands to 17,000 bonds Friday
New York, Sept. 30 - The NASD's Trade Reporting and Compliance Engine (Trace) will expand public reporting of bond trades to 17,000 issues on Oct. 1 from 4,500 previously.
In addition, information will be made available in 30 minutes instead of 45 minutes after the trade took place.
Trace covers both investment-grade and high-yield bonds.
The Oct. 1 expansion is the first part of the final expansion of the project.
On Feb. 1, Trace will extend to 23,000 corporate bonds, with trades on more than 99% of those reported within 30 minutes.
In the final stage, the reporting time will be cut to 15 minutes on July 1, 2005.
Once complete, Trace will mean virtually every corporate bond trade will be reported in close to real time.
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