MSRB Seeks Input on Development of New Municipal Trade Reporting System (with Lofchie Comment)

The MSRB announced in a regulatory notice that it is seeking input from municipal securities market participants to guide the design of the next generation of electronic reporting and public dissemination of municipal securities trades. According to the notice, one of the core elements of the MSRB's long-range plan for market transparency is the development of a central transparency platform to enhance public access to real-time pricing information about municipal securities transactions. As part of its information-gathering process, the MSRB is requesting market input on potential improvements to the timeliness, fairness and efficiency of price transparency in the municipal market.

Comments Due: March 15, 2013.

Lofchie Comment: As noted previously, SEC Chairman Walter regards the municipal securities market as one of her principal priorities. Accordingly, firms are well advised to provide input, as there will be significant rulemaking from both the MSRB and the SEC in this area. Here is a link to the news item we published when Chairman Walter took over her post; it lists a number of her speeches on the topic of municipal securities. SEC Chairman Mary Schapiro to Step Down; Commissioner Elisse Walter to Become Chairman (with Lofchie Comment and Links to a Few of Walter's Speeches and Related News Stories)

Click here to view regulatory notice in full (links externally to MSRB website).