Smaller banks and securities firms are urging the Municipal Securities Rulemaking Board not to shorten its current 15-minute trade reporting deadline or make changes to current trade reporting procedures.

In recent days, Bond Dealers of America and a Texas-based firm filed letters in response to a January concept proposal in which the MSRB asked market participants if faster reporting or other changes to its online information systems would improve the timeliness, fairness and efficiency of the muni market.

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