WASHINGTON — A Chicago-based broker dealer has launched an electronic platform executives say will help ensure new-issue municipal bonds reach retail investors efficiently and at fair prices.

Incapital, a firm that has traditionally specialized in making fixed-income products directly available to retail investors, updated in October a muni bond version of Incapnet, an online system that executives say can distribute new-issue munis directly to some 600 retail-focused brokers and financial advisors nationwide.

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