Ownership since 2004 reveals a continuous decline in individual investor direct ownership of municipal securities while ownership through funds has steadily risen. Read the report.

A new commentary by MSRB Chief Economist Simon Wu reviews how the COVID-19 pandemic has affected trading costs for investors buying and selling municipal securities.

This paper focuses on the impact of electronic trading technology on the municipal securities market by analyzing inter-dealer trading activity on alternative trading systems (ATSs) and broker’s…

Analysis of trading behavior in the year since the implementation of mark-up disclosure.

Analysis of pre-trade quote data for municipal securities available to market participants on alternative trading systems (ATSs).

MSRB Chief Economist’s analysis of reasons for the steady decline in effective spread.