The Municipal Securities Rulemaking Board today is scheduled to implement several enhancements to its real-time transaction reporting system Web interface that are designed to make it easier to use for dealers.
The board announced the enhancements in a notice issued yesterday that it said will be described and explained at two forthcoming seminars. The first will be held tomorrow in Chicago, while the second will take place on June 21 in New York City. The board said dealers should attend one of the seminars which run two-and-a-half hours if possible.
In its notice, the MSRB said it has made numerous minor changes to its RTRS Web to improve navigation and to make functions easier to use. For example, several of the buttons have been renamed to more accurately reflect their function.
Additional search capabilities also have been added, the board said, such as a new error code review and response screen that will allow dealers to search for trades that have received specific error codes.
Also, the MSRB has added three new types of reports to its RTRS Web that dealers with report privileges will be able to access. One is a Discrepancy Error Code report that will provide a dealer with information about its counterpartys submission of data for an inter-dealer transaction that received at least one of three error codes. The error codes result when the dealers on either side of the trade key in different information about the trade.
The second report, a Destination Code Report, will be available regarding dealers that choose to use the National Securities Clearing Corp.s automated comparison system to deliver securities between dealers that are not the result of purchase-sale transactions.
The third report is a Report of Correspondents for dealers that have an assigned submitter ID on file with the board. The report will list the company name and broker symbol of dealers that have indicated to the MSRB on Form RTRS that they have a clearing relationship with the requested submitter ID.
