Who We Are

The Bond Pricing Institute (BPI – a Division of the Bond Dealers of America) was launched early 2022 within to bring together and represent diverse professionals engaged in the work of pricing evaluations of fixed-income securities for investors, funds, broker-dealers, insurance companies and others.

The mission of the BPI is to promote professionalism and best practices in fixed-income securities pricing through advocacy, education, and communication. Improved pricing and valuation of fixed income securities to benefit investors is of primary focus.

BPI provides a menu of services to member professionals and companies, including:

  • Federal Advocacy – Providing direct representation for Pricing and Valuation Firms
  • Direct Participation in developing and maintaining Industry Best Practices
  • Events and Webinars
  • Research & Surveys
  • Industry Resources Handbook

We Focus On

  1. Communication, education, networking and awareness as scrutiny by regulators (globally) increases for pricing and valuation providers
  1. Representation and advocacy for this important segment of the fixed income markets – especially as the SEC and others focus on overall bond market structure
  1. Investors benefit from collaborative efforts to improve securities pricing and valuations



  • SEC Rule 15c2-11 SEC
  • Fair Value Rule 2a-5
  • Compliance with accounting Levels 1-3
  • PCAOB scrutiny of broker quotes

Business/Market Structure

  • Market liquidity
  • Electronification of market and transparency of pricing
  • Public to private market trends
  • Reference price for best ex – retail versus institutional markets

Structure and What We Do

Steering Committee

The Bond Pricing Institute is led by a Steering Committee of 15 individuals representing the different members of the Division, and includes two BDA Board member from sell-side dealers.


The Division meets virtually or in-person on a quarterly basis or as needed. Meetings are tied to BPI/BDA events when possible – example is an in-person Division meeting correlated with the BDA annual FI conference.

2023 BPI Program

13 Feb2023 Bond Pricing Guide & HandbookView
15 FebBPI Steering Committee MeetingVirtual
23-24 MarBDA Bond Market Structure Conference *Dallas, TX
18 AprBPI Steering Committee MeetingVirtual
16 MayBPI Webinar – Topic SEC & Information ProvidersVirtual
25 JulBPI Steering Committee MeetingNew York, NY
26 JulBPI Conference – Fixed Income Pricing Market Structure, Data & Technology (planned)New York, NY
14 SepBPI Webinar – Topic TBDVirtual
25 OctAdvocacy Fly-InWashington, DC
25 OctBPI Annual MeetingWashington, DC
26-27 OctThe BDA’s National Fixed Income Conference *Washington, DC
16 NovBPI Webinar – Topic TBDVirtual
DecemberBPI Xmas Networking Drinks (planned)New York, NY
* Indicates BDA Event open to sponsorship/attendance by BPI members