TBMA Balks At MSRB's Pricing Plans

Hume, Lynn
May 2003
Bond Buyer;5/13/2003, Vol. 344 Issue 31634, p1
Trade Publication
Hesitating at the Municipal Securities Rulemaking Board's (MSRB) proposed timing for moving to next-day and real-time price reporting on municipal securities trades, The Bond Market Association is warning the SEC that the MSRB should not proceed until there is a study of whether market liquidity would be harmed. The dealer group's warning also comes as the MSRB is moving forward with plans to put in place a system for real-time price reporting by mid-2004. The municipal bond market has the highest proportion of direct retail investor participation compared to other fixed-income markets, according to Federal Reserve System data.


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