MSRB Makes Muni Data Real-Time

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The Municipal Securities Rulemaking Board, the Alexandria, Va.-based regulator for the US municipal bond markets, last week launched a real-time feed of trade price data, the Real-Time Transaction Reporting System.

The move is intended to increase transparency in the illiquid muni bond market, which has 10.5 million securities with an annual outstanding value of about $2 trillion, but only one third of securities may actually trade in a given year, says Christopher Taylor, executive director