Fixed Income Market Structure Working Group
Market-Driven Solutions for the US Bond Markets
The BDA is convening this group to proactively address the challenges and opportunities that changing business practices, technology, regulation, and market forces have on fixed income management.  The working group brings together a seasoned and diverse group of industry professionals.  As a 'Main Street' thought leader on fixed income market structure, the BDA’s new working group anticipates direct engagement with the SEC, Capitol Hill, federal regulators, and other market participants.
Underneath the cyclical gyrations in the fixed income marketplace, there are serious secular changes taking place. By virtue of its membership, this working group will provide a unique perspective about the critical issues faced by the fixed income industry. Our collective voice will play a critical role in helping policymakers ensure that tomorrow’s investors will be fairly served in the fixed income markets,” said 2020 co-chairs Brad Winges, Hilltop Securities and Kevin Giddis, Raymond James (retired).
Topics of interest to the working group include:
  • Federal regulation and the impact on fixed income liquidity;
  • Technology, execution and the impact on trading and sales;
  • Electronic execution in the taxable primary markets; and
  • Evolving buy-side capabilities and expectations
Brian Brennan, Co-Chair Head of Fixed Income KeyBanc Capital Markets
Matt Boardman, Co-Chair Managing Director and Head of US Wealth Management Fixed Income RBC Wealth Management
Peter Borstelmann President ICE Bonds
Matt Boles
Managing Director RBC Capital Markets John Cahalane Managing Director Tradeweb Horace Carter EVP, Head of Fixed Income Capital Markets Raymond James Tom Dannenberg Group Head, Government, and Non-Profit Finance Huntington Securities Inc.
Marc Dispense President, Fixed Income Capital Markets DA Davidson Mark Evans
Executive Vice President, Director of Trading Vining Sparks
SJ Guzzo Head of Debt Capital Markets Duncan-Williams, Inc.
Michael Haire Vice President of Fixed Income LPL Financial
Sean Ladley Managing Director, Head of Generalist Fixed Income Sales Wells Fargo Securities Chris Long Managing Director, Head of Municipals US Bank Mike Marz Vice-Chairman Hilltop Securities, Inc.
John Miller
CAO, Head of Municipal Underwriting and Distribution Piper Sandler
Alan Polsky Senior Vice President, Fixed Income Colliers Securities John Reilly
Managing Director, Capital Markets Trading Business and Strategy Wells Fargo Advisors
Tim Romanow Executive Vice President and Director of Trading FHN Financial Capital Markets
Richard Schiffman Open Trading Product Manager MarketAxess Pete Sirbu
Vice President, Head of Fixed Income Capital Markets Trading and Strategies Ameriprise Financial
Brad Winges President & CEO Hilltop Securities Don Winton Chief Operating Officer Crews & Associates