The New York Stock Exchange could face new conflicts of interest if members are allowed to trade unlisted corporate debt on the NYSE’s electronic bond trading system, the Bond Market Association said.

Acting as a broker for bond trades could interfere with the exchange’s self-regulatory status, it said. “We are concerned that its existing status as an SRO has the potential to give the exchange competitive advantages over other brokers,” said Lynnette Kelly Hotchkiss, associate general counsel at the BMA.