MSRB sets agenda for its FY 2024 meeting

The Municipal Securities Rulemaking Board will discuss its proposed change to a one-minute trade reporting window at its upcoming meeting on July 26-27.

The board’s amendments to Rule G-14 on transaction reporting obligations caught the ire of dealer groups who argued that benefits to the change would be speculative at best and that shortening trading times would disrupt liquidity, threaten the viability of personalized negotiations through voice or electronic communications and disproportionately harm smaller participants through heavy cost burdens.

The MSRB will also discuss its proposal to amend Rule G-12 on uniform practice “to adopt requirements for the completion of allocations, confirmations and affirmations related to municipal securities transactions that are consistent with those applicable to broker-dealers for other securities under newly adopted SEC Rule 15c6-2,” the MSRB said.

The board will also discuss updates to its technology platforms. EMMA user personalization will be updated and improvements made to search and the disclosure submission process. 

The MSRB will receive a demonstration of a structured data lab for its EMMA Labs platform, which will provide educational content on structured data, detail the experiences of those who’ve adopted structured data and feature other prototypes that show what EMMA can do in the future with more structured data.

The board will also hold officer elections for the upcoming year and vote on who will fill Jerry Ford’s MA slot, Ford returned to the MSRB board to fill Jill Jaworski’s vacancy after she left to become the chief financial officer of Chicago. The application process closed on June 16.

The MSRB will also discuss the upcoming fiscal year priorities, which begins on Oct. 1, and discuss the budget.