Public Securities Association - PSA

AAA

DEFINITION of 'Public Securities Association - PSA'

The predecessor association to the Bond Market Association, which represents the largest securities markets in the world, the bond markets. The Public Securities Association was incorporated in 1976, and underwent a name change to the Bond Market Association in 1997 to better reflect its broadened constituency and membership.

INVESTOPEDIA EXPLAINS 'Public Securities Association - PSA'

The Bond Market Association represents a diverse mix of securities firms and banks, from large firms to niche specialists, with 70% of member firms having their headquarters outside of New York City. Its members collectively account for a significant majority of U.S. municipal bond underwriting and trading.

RELATED TERMS
  1. 48-Hour Rule

    A requirement that all pooled information regarding to-be-announced ...
  2. Debt Security

    Any debt instrument that can be bought or sold between two parties ...
  3. Primary Market

    A market that issues new securities on an exchange. Companies, ...
  4. Secondary Market

    A market where investors purchase securities or assets from other ...
  5. Bond Market

    The environment in which the issuance and trading of debt securities ...
  6. Market Value

    The price an asset would fetch in the marketplace. Market value ...
Related Articles
  1. How Bond Market Pricing Works
    Bonds & Fixed Income

    How Bond Market Pricing Works

  2. The Bond Market: A Look Back
    Mutual Funds & ETFs

    The Bond Market: A Look Back

  3. Why Bad Bonds Get Good Ratings
    Bonds & Fixed Income

    Why Bad Bonds Get Good Ratings

  4. 5 Basic Things To Know About Bonds
    Bonds & Fixed Income

    5 Basic Things To Know About Bonds

Hot Definitions
  1. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  2. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  3. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
  4. Parity Price

    When the price of an asset is directly linked to another price. Examples of parity price are: 1. Convertibles - the price ...
  5. Earnings Multiplier

    An adjustment made to a company's P/E ratio that takes into account current interest rates. The earnings multiplier is used ...
  6. Macroeconomics

    The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena ...
Trading Center