MSRB NOTICE 2006-17 (JUNE 16, 2006)

DATA QUALITY DETAIL REPORT IS AVAILABLE TO DEALERS

The MSRB on June 16, 2006, made a new report available to dealers to assist in reporting municipal securities transactions.  The new report, called “RTRS Dealer Data Quality – Detail,” displays trade reports that are counted in the currently available RTRS Dealer Data Quality – Summary (“Summary Report”).[1]  The RTRS Dealer Data Quality – Detail (“Detail Report”) provides information to dealers to help them report trades promptly, accurately and completely, and provides information to enforcement agencies to assess the quality of data reported by dealers.  The objectives of the Detail Report are:

• To identify the trades that are counted in the categories of the Summary Report.  For example, the Detail Report identifies each late, amended or cancelled trade. 

• To supplement the Summary Report.  Supplemental information includes the unsatisfactory aspects of inter-dealer trade reports, trade reports that were submitted with special condition indicators, and the submission times of late reports.

Each Detail Report covers transactions reported during one month and reflects modifications through the middle of the following month.  A dealer’s trades are assigned to these reports in the same way they are assigned to a Summary Report.  Clearing brokers’ reports cover the inter-dealer trades that they cleared and reported during the month.  Customer trades are covered in the report of the dealer that effected the trades.

Obtaining and Using the Report

A dealer may obtain its Detail Report by using the “Reports” section of RTRS Web.  Ordinarily the report for a given month will be available on the first business day following the 15^th of the following month.  The request screen in RTRS Web shows the months for which reports are available. 

Documentation about the contents of the Detail Report is in Dealer Data Quality – Detail:  User’s Guide, on www.msrb.org. 

Questions about the RTRS reports may be directed to a Transaction Reporting Assistant at (703) 797-6600.

June 16, 2006

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