important initiative by the association of market intermediaries bonds (ICMA) within MiFID: It will, in short, made operational portal- www.bond marketprice.com on the speech "price transparency on the bonds." We go into detail, the site will cover prices and negotiations carried out between members of ICMA (over 400 international brokers) and only cover emissions and most liquid exchange between 15.ooo million and € (thus the amount that could be categorized as "retail"). The type of bond will be on emissions at a fixed rate, variable and convertible securities and supranational government, corporate and financial issuers. The data will be public and free web-based and will cover all closing prices, and minimum and maximum volumes dela day in practice will be information about transparency on bond only post-trade . E 'will be equally clear that the reference price and the sample, albeit significant, of a universe of trading over the counter "so widespread can not be taken as a means" base " and binding on subsequent bargaining. To optimize the transparency should be introduced also the visibility pre trade, we still very much welcomed this initiative as a "wake on" basic principles of MiFID.
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