MSRB Monthly Update - March 2013

Municipal Securities Rulemaking Board sent this bulletin at 03/08/2013 09:30 AM EST

Event News

MSRB Chair Jay Goldstone delivered remarks at the National Municipal Bond Summit on February 26, 2013. Read the remarks.

MSRB Executive Director Lynnette Kelly delivered remarks at the Municipal Bond Buyers Conference on February 25, 2013. Read the remarks.

The MSRB’s Investor Guide provides information on purchasing municipal bonds and monitoring municipal bond investments.

Highlight of the Month

MSRB Publishes 2012 Fact Book

The MSRB recently published the 2012 edition of its Fact Book, an online sourcebook that analyzes trading data and other statistics for the $3.7 trillion municipal bond market. This year, the Fact Book includes new statistics on municipal market trading activity based on the credit rating and average yields of customer trades of municipal securities.

View the 2012 Fact Book.

New and Noteworthy

MSRB Seeks Input on Annual Planning

As part of its annual assessment to establish regulatory and other priorities, the MSRB is seeking comment on the priority issues that municipal market participants believe the MSRB should address during the upcoming fiscal year, which begins October 1, 2013.

Read the request for comment or submit a comment.

EMMA Market Statistics

Number of Small Trades Continue to Increase in February

In February of 2013, the number of trades of $100,000 or less – which are typically used as a proxy for retail activity – accounted for 82.1 percent of the 755,063 total trades. This was the highest level for these trades since December 2011. Last November, trades of $100,000 or less accounted for 79.8 percent, the lowest percentage in 2012. In terms of par traded, trades of $100,000 or less accounted for 10.3 percent of all par traded in February, slightly lower than 10.5 percent in December 2012 but higher than any other month since March 2011.

For more information or other statistics on municipal trading activity, continuing disclosures or variable rate resets, visit the MSRB’s EMMA website.

Regulatory Roundup

MSRB Updates Electronic Form for Reporting Trades
(February 12, 2013)

Request for Comment on Codifying Time of Trade Disclosure Obligation (February 11, 2013)

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