FINRA, MSRB Push for Bond Reference Price Disclosure
Under the FINRA and MSRB proposals, dealers would have to include data on other trades in corporate and municipal bonds─which can be sourced from FINRA's Trade Reporting and Compliance Engine (TRACE) feed and the MSRB's Electronic Municipal Market Access website, respectively─and the difference between these trade prices and the customer's trade price.
Officials say disclosing the reference prices will help promote price transparency. The authorities are seeking comments on their proposals by
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