The National Association of Securities Dealers yesterday submitted plans for a junk bonds surveillance and quotation system to the Securities and Exchange Commission yesterday, but traders continue to question its effectiveness.

"The area where people are most concerned isn't going to be monitored," one trader said, referring to the distressed sector.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.