RTRS Users Manual

MSRB Rule G-14 requires municipal securities dealers to report to the MSRB the sale and purchase of municipal securities.

The RTRS Specifications document details various aspects of the MSRB's Real-time Transaction Reporting System (RTRS), including input and output specifications for interfacing with RTRS using interactive messaging. Error codes assigned to an RTRS submission are also included. Click here to view archived materials on RTRS.

The RTRS Web User Manual describes the web-based input of data into RTRS and describes related compliance reports. This manual also provides detailed instructions for municipal securities dealers on how to submit Form RTRS, which is required for all dealers, even if they will not report securities trade activity in connection with RTRS. 

Questions and Answers 

Dealer Data Quality Report Guides 

  • Dealer Data Quality Summary Report Guide. The RTRS Dealer Data Quality Summary report provides dealers with summary statistics and details of their trades. Correspondent, or non-clearing firms, should access the Summary of Correspondent’s Trades report to view inter-dealer reporting done on their behalf. This report can only be accessed through RTRS Web.
  • Dealer Data Quality Summary of Correspondent's Trades Guide. The RTRS Dealer Data Quality Summary of Correspondent’s Trades report provides correspondent firms with summary statistics and details of all their trades. This report can only be accessed through RTRS Web.
  • Dealer Data Quality Detail Report Guide. The RTRS Dealer Data Quality Detail report provides firms with the identifying details of trades in certain categories of the data quality reports.  This report can only be accessed through RTRS Web.

Test Submission Information

Reports on Dealers Trades
Dealers can obtain a record of the transactions for which a fee has been assessed to verify their compliance with Rule G-14. Use the MSRB's Dealer Feedback System (DFS) in MSRB Gateway to request a report of all transactions reported to RTRS within a selected calendar month. Reports are available for the three most recent billing months processed by the MSRB. Click here to access instructions on the DFS Query and Retrieval Process.