[NEW YORK] BlackRock Inc said the corporate bond market, which is one of the cornerstones of global finance, is "broken" and must be retooled to improve liquidity.
BlackRock, a major competitor in the bond market with US$4.3 trillion in client assets, urged changes including unseating banks as the primary middlemen in the market and shifting transactions to electronic markets. Another solution BlackRock proposed: reducing the complexity of the bond market by encouraging corporations to issue debt...
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