Bond Market Association celebrates 30th anniversary.

At its first meeting of the year this month, the Bond Market Association's Board of Directors formally recognized the group's 30th anniversary, noting the Association was incorporated as a separate entity in 1976.

The Association was initially called the Public Securities Association, reflecting its roots in the U.S. municipal bond market, but changed its name in 1997 to better illustrate its expanded mission of representing all of the global capital markets.

Today, the Association, with offices in New York, Washington and London, proudly represents securities firms, banks and asset managers that underwrite, invest, trade and sell debt and other financial products globally.

"The Association is incredibly proud to celebrate its 30th anniversary," said Micah S. Green, President and CEO, "but we are far more mindful of our mission going forward. The capital markets continue to rapidly change and expand, not only globally but in the creation of a staggering number of new products, and our members' role in the middle of these developments demands that we remain fully engaged in all of our markets." The establishment of the Association can be traced backed to 1912 with the creation of the Investment Bankers Association of America.

Through the years, IBAA formed many committees to serve the needs of fixed-income market participants, including a Government Bonds Committee and the Municipal Division Council. In 1972, IBAA merged with 'the Association of Stock Exchange Firms to form the Securities Industry Association. In 1976, the Public Securities Association incorporated as a separate body to more closely align itself with the interests of fixed-income securities dealers.

Over the past 30 years, the Association has grown and changed significantly, in keeping with the tremendous changes taking place in the global markets. During the 1980's and 1990's, the Association opened a Washington office, merged with the Primary Dealers Association and created a money market committee, as well as the London Primary Dealers and Asian Government Securities Committees.

The Association formally changed its name to the Bond Market Association in 1997 and since then has opened a London office, helped form the European and American Securitization Forums and the European Primary Dealers Association. The Association has also reached out to investors and just this past fall created a new Asset Managers Division which formally incorporates institutional investors into the Association.

"The Association adds tremendous value to all participants in the global capital markets," said Ed Forst, chairman of the Bond Market Association and Chief Administrative Officer of Goldman Sachs Group. "We're committed to working on behalf of all of our members to ensure the markets remain fair, efficient, deep and liquid."

Indeed, as the capital markets continue to grow and diversify, market participants are confronting an array of issues both short and long-term.

Said Mr. Green, "The Bond Market Association has worked tirelessly over the years to create and implement a well-functioning foundation which has enormously benefited issuers, investors and all market participants.

"We look forward to accomplishing even more."