MSRB Proposes Rule to Provide Academic Institutions with RTRS Data

The Municipal Securities Rulemaking Board ("MSRB") proposed a rule that would provide academic institutions with post-trade municipal securities transaction data collected through the MSRB's Real-Time-Reporting System ("RTRS Academic Data Product").

The MSRB noted that even though post-trade municipal securities transaction data is publicly available currently, the RTRS Academic Data Product would improve the usefulness of the data by allowing academics to distinguish between transactions that were executed by different dealers.

The proposal will become effective no later than 270 days after the publication of the regulatory notice that announces the SEC's approval.