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MSRB plans municipals study focusing on market's efficiency, fairness
By Jennifer Chiou
New York, Dec. 7 - The Municipal Securities Rulemaking Board announced that it will conduct a study of the municipal securities market, including a review of market structure and trading patterns, in order to assess whether the market is operating as efficiently and fairly as possible.
The board said in a news release that the study will review transaction costs, price dispersion and other market data in evaluating whether pricing mechanisms and liquidity in the market could be improved with higher levels of pre-trade price transparency.
"A core part of the MSRB's mission is to promote a fair and efficient market, and this study on pricing efficiency and liquidity is consistent with that mission," MSRB executive director Lynnette Kelly Hotchkiss said in the release.
Questions may be directed to Jennifer A. Galloway, chief communications officer, at 703 797-6600 or jgalloway@msrb.org.
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