The MSRB’s four rate card fees consist of the annual municipal advisor professional fee assessed pursuant to Rule A-11 and the underwriting fee, transaction fee, and trade count fee each assessed pursuant to Rule A-13. The current rate card went into effect on January 1, 2026. See: FAQs about the New Multi-Year Rate Card Fees for Dealers and Municipal Advisors.
| Assessment/Credit Basis | 2026 | 2027 | 2028 | 2029 | |
| Underwriting Fee | Per $1,000 Par Underwritten | $0.0297 | $0.0297 | $0.0297 | $0.0297 |
| 45% Temporary Credit | ($0.0134) | ($0.0134) | $0 | $0 | |
| Net of Rate of Assessment | $0.0163 | $0.0163 | $0.0297 | $0.0297 | |
| Transaction Fee | Per $1,000 Par Transacted | $0.0107 | $0.0107 | $0.0107 | $0.0107 |
| 45% Temporary Credit | ($0.0048) | ($0.0048) | $0 | $0 | |
| Net Rate of Assessment | $0.0059 | $0.0059 | $0.0107 | $0.0107 | |
| Trade Count Fee | Per Trade | $1.10 | $1.10 | $1.10 | $1.10 |
| 45% Temporary Credit | ($0.49) | ($0.49) | $0 | $0 | |
| Net of Rate of Assessment | $0.61 | $0.61 | $1.10 | $1.10 | |
| Municipal Advisor Professional Fee | Per Covered Professional | $1,130 | $1,200 | $1,270 | $1,340 |
To learn more about the Board’s rate-setting process and fees, see:
