MSRB Seeking Input on Potential Enhancements

Published on:
September 25, 2014

SIFMA provided comments to the Municipal Securities Rulemaking Board (MSRB), in which the MSRB requested comment on enhancements to the post-trade municipal securities transaction data that would be disseminated from a new central transparency platform (CTP).

SIFMA is pleased with the methodical manner in which the MSRB has proceeded with obtaining input regarding the development of the CTP, but remains concerned about the costs of certain proposed changes, relative to their assumed benefits, particularly related to the proposed addition of a conditional trading commitment indicator and the changes related to dealer compensation arrangements.

Additionally, SIFMA feels strongly that the MSRB should clarify its guidance regarding the use of the List Offering Price/Takedown Transaction indicator.

Related Material

Regulatory Notice 2014-14 on CTP

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