The US Municipal Securities Rulemaking Board (MSRB) has contracted with New York-based Random Walk Computing for the supply of a real-time transaction reporting system (RTRS).
Scheduled for deployment in 2004, the RTRS will use ISO15022 messaging with a real-time transaction matching engine to enable dealers to comply with MSRB rules on transaction reporting and automated comparison using a single pipeline.
Dealers will be expected to report trades to MSRB within 15 minutes of execution. The system will enable MSRB to process transactions as they are received and perform regulatory checks, notifying dealers of exceptions.
Tom Hutton, MSRB's technology director, says: "Our introduction of real-time regulatory reporting is a great example of applying technology to increase efficiency across the board with tangible benefits and efficiencies for all market participants."