The Municipal Securities Rulemaking Board (MSRB) reminds municipal securities dealers that amendments to MSRB Rule G-14 on transaction reporting become effective on July 18, 2016. The amendments will enhance the post-trade price transparency information provided through the MSRB’s Real-Time Transaction Reporting System by:
- Establishing a new indicator for customer trades not involving transaction-based compensation;
- Establishing a new indicator for alternative trading system (ATS) transactions;
- Expanding the application of the existing list offering price and takedown indicator to cases involving distribution participant dealers and takedown transactions that are not at a discount from the list offering price; and
- Eliminating the requirement for dealers to report yield on customer trade reports and, instead, enabling the MSRB to calculate and disseminate yield on customer trades.