The US Municipal Securities Rulemaking Board (MSRB) is using data and process integration software from New York STP vendor Volante Technologies to build a 'Real Time Transaction Reporting System' (RTRS).
The MSRB establishes rules regulating dealers who deal in municipal bonds, municipal notes, and other municipal securities.
The new RTRS will allow dealers to report activity through a real-time, interactive messaging system. Data will then be compiled to publish daily transparency reports and to allow regulatory surveillance.
Tom Hutton, CIO, MSRB, says: "Volante was chosen for its richness in ISO 15022 support and its zero lock-in technology for building complex messaging applications."