MSRB Rule Change Adds Clarity to Operations of EMMA, RTRS and SHORT Systems
The MSRB filed a rule change with the SEC that revised the information facilities for the three market transparency systems: the Electronic Municipal Market Access System, the Real-Time Transaction Reporting System and the Short-Term Obligation Rate System. The purpose of the revisions is to better align the rules' language with the MSRB's administration of the three systems. The rule change also adds references to the MSRB's core operational hours and the "24/7 availability of many aspects of its systems." The rule change became effective when filed and will be made operative on August 24, 2015.