MSRB NOTICE 2003-30 (JULY 31, 2003)

DEALER FEEDBACK SYSTEM: T+2 INTER-DEALER TRANSACTION REPORT

Beginning August 4, 2003, the MSRB will make available a new service that will enhance dealers' ability to check their Rule G-14 inter-dealer transaction reporting compliance.  The service will be added to the Dealer Feedback System (DFS), which currently allows a dealer to access the trading data it has reported to the MSRB.  Currently, the services available through DFS include reports of transaction reporting information on a one-month delay basis.  The new service will provide dealers with more contemporaneous feedback in the form of a “snapshot” report.   

The snapshot report will be automatically generated two days after trade date for each clearing number with transaction activity on the referenced trading day.  The report will only contain information for the referenced trading day and will display information about trades submitted late, stamped advisories, invalid times of trade, uncompared input, and trades submitted with invalid executing broker symbols. [1]   

Dealers will be able to obtain the report by downloading it from the DFS homepage in the same manner used to access the current DFS reports.  The report will be generated in comma-delimited format and is easily imported into Excel.  Additional documentation and instructions for importing the report into Excel are available on the DFS homepage in the Municipal Price Reporting / Transaction Reporting System section of the MSRB web site at www.msrb.org.

Questions regarding this notice can be directed to John Baughman, Senior Data Analyst, or a Transaction Reporting Assistant at (703) 797-6600.

July 31, 2003



[1] Dealers should note that if they attempt to sum the information provided on the new report over a monthly timeframe, the totals of each error identified may not equal the number of errors identified on the monthly reports.  Since the new report is generated using data in the MSRB transaction reporting system two days after trade date, the report would not include, for example, trades submitted later than two days after trade date, which would appear on the monthly report.