MSRB Upgrades Trade Reporting System

The MSRB upgraded its Real-Time Transaction Reporting System ("RTRS") to improve operations and user interface.

The RTRS was created in 2005 to collect real-time trade data from municipal securities dealers, and the data was made publicly available on the MSRB's Electronic Municipal Market Access ("EMMA") website in 2008. The MSRB stated that the improved RTRS provides (i) better error detection of computer-to-computer trade reports from dealers, (ii) "streamlined navigation and enhanced display of information" for the web user and (iii) improved data quality and system security within the MSRB Transaction Subscription Service.