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RTRS Web User Manual

1. TRANSACTIONS IN SECURITIES SUBJECT TO MANDATORY TRANSACTION REPORTING Inter dealer transactions eligible for clearance and settlement through a registered clearing agency must be reported through the Real Time Trade Matching RTTM environment see MSRB Rule G 12 f for further details Reporting inter dealer transactions through RTTM satisfies the G 14 reporting requirement for inter dealer transactions Any customer transaction in a security eligible for CUSIP number assignment by the CUSIP service bureau must be reported to the MSRB IDRO transactions must be reported to the MSRB by a clearing firm see MSRB Rule G 14 RTRS Procedures for further details Inter dealer customer and IDRO transactions are subject to the 15 minute reporting requirement as of January 31 20053 with exceptions as noted in MSRB Rule G 14 WEBSITE SECURITY AND CONFIGURATION REQUIREMENTS The RTRS Web application can only be accessed with a valid user ID and password Users will be provided with a user ID and password once they have been given access through Form RTRS See 3 Managing User Accounts This user ID and password will allow the user to log in to the application through the MSRB Gateway See 4 User Sign on and Permissions Uniform Practice MSRB Rule G 12 f http www msrb org msrb1 rules ruleg12 htm 2 Reports of Sales or Purchases MSRB Rule G 14 http www msrb org msrb 1 rules ruleg 14 htm 3 Real time Transaction Rep
2. Real Time Transaction Reporting System Web Users Manual 18 PRINTING DATA You may print data in Trade Management Error Code Review and Response Search functions Unapplied Messages and Trade Information screens In each of these views there is a small printer icon in the top right corner of the screen Only the data elements displayed on the screen will be printed not the underlying data of the transaction You may export the transaction to Microsoft Excel or a similar program see Section17 Exporting Data for further information and print to obtain the additional fields In addition all Result Set Views will print only the records shown For example if 1 50 out of 100 records are displayed only the first 50 shown will print Municipal Securities Rulemaking Board 38 Real Time Transaction Reporting System Web Users Manual 19 REPORTS The Reports section of RTRS Web provides report functionality based on transactions submitted by and for your firm There are three categories of reports available RTRS Data Quality Reports Other Reports and Suggested Searches The reports in the Other Reports category generate a printable and exportable list of transactions that fit certain criteria as described below RTRS Data Quality Reports describe reporting data with regard to certain categories as described below Suggested Searches include links that take the user to the Trade Management Error Code Review and Response or Un
3. 07 2005 Viewing 1 10 of 10 trades matching your search criteria Export Trade Data a After you have selected the transaction the Trade Information screen will be displayed If you have modify privileges the transaction will be available for editing with the modify trade button available If you have cancel privileges the transaction will be available for canceling with the cancel trade button available unless the transaction is inter dealer If you do not have modify or cancel privileges the transaction display in view only mode ss scene eee ee Municipal Securities Rulemaking Board 26 Real Time Transaction Reporting System Web Users Manual MSRB ogged in as Test User for Municipal Securities Rulemaking Board Home New Trades View Trades Reports INTER DEALER TRADE ID TBMN353134481305 MSRB Back to Trade Management Export Trade Data amp Field required o ENNA Trade information zan trade report questionable Regulatory Notices Mi Hi T QO N913 LATE Trade reported after deadline Select to go to eSSHBE story ab Regulatory Information Section for Inter dealer transactions only Regulatory Reporting Information Time of Trade 12 10 01 Effectips MSRB hh mm 2a ermediate Broker Participant Capacity Principal AP NG z 2 ontra s Effecting Broker AAZZ Contra Capacity x mz Contra s Intermediate Broker Weighted Average Price No
4. 428059AP4 S Interdealer MSRB 20 000 112 416 RW24353102481305 06 06 2005 06 09 2005 06 09 2005 O 546475BK9 B Inter dealer MSRB 30 000 104 931 D IBMN353134481305 06 06 2005 06 09 2005 06 07 2005 O 645916E52 S Interdealer MSRB 3 850 000 100 05813531 36451305 06 06 2005 06 07 2005 06 07 2005 2 786005FS2 5 Inter dealer MSRB 2 300 000 100 2004353077 461305 06 06 2005 06 07 2005 06 07 2005 015086KP5 S Customer MSRB 50 000 108 225 3 196 C607353168481305 06 07 2005 06 10 2005 06 07 2005 01852LAA8 5 Inter dealer MSRB 410 000 U 9 388 2003353101 481305 06 07 2005 06 10 2005 06 07 2005 04144LAX0 8 Customer MSRB 1 000 000 106 337 2 92 1468353163481305 06 07 2005 06 10 2005 06 07 2005 043229CZ4 S Customer MSRB 20 000 102 589 4 119 2073353178481305 06 07 2005 06 10 2005 06 07 2005 The filters that have been pre defined for managing your transactions are as follows e Transaction types Display only inter dealer transactions only customer transactions only IDRO transactions or all transaction types e Status Includes regulatory status and match status e Submission Date Time Frames Includes pre defined time frames to filter your transactions Note that specific date range searches are available from the Advanced Search screen e Effecting Broker Symbol EBS Select from a list of effecting broker symbols registered with the MSRB for your firm or from a list of effecting broker symbols that your firm submits for e Submitt
5. Code Review and Response use the drop down or keyword Viewing 1 7 of 7 t fields to narrow your choices Select the desired error code to close this window and return to the Error Code Review and Response page i OR fitter error code descriptions by keyword Show CUSIP Error Code Error Code Description QUEST CUSIP appears to be invalid UNSAT CUSIP check digit missing or incorrect Date Submission Date 06 07 2005 06 09 2005 ecurities Rulemaking Board 06 07 2005 06 07 2005 06 07 2005 06 07 2005 A Sd Local intranet FE 06 07 2005 Viewing 1 7 of 7 trades matching your search criteria Export Trade and Error Data 8 Once you have chosen your filter criteria press the filter trades button to view a list of transactions that match your criteria The Error Code Review and Response page will give you some of the basic information about your transaction including Regulatory Status Icon CUSIP B S Buy or sell Transaction Type Inter dealer customer or IDRO EBS Effecting broker symbol for the effecting dealer on the transaction Par Value Price If provided by dealer Yield If provided by dealer XREF Dealer control number Trade Date Settlement Date Submission Date Municipal Securities Rulemaking Board 21 Real Time Transaction Reporting System Web Users Manual ke To sort the data by any of these criteria click the column heading once for ascending order a
6. of transactions can submit on RTRS Web A Depending on the privileges you have you can e submit customer and inter dealer regulatory only IDRO transactions e modify data for customer and IDRO transactions e modify regulatory data only for inter dealer transactions and e cancel customer and IDRO transactions Note that you can not submit inter dealer transactions through RTRS Web BASIC RTRS WEB NAVIGATION Q What is the difference between a reversed trade and a trade reversal A Post match an inter dealer transaction can not be canceled it must be reversed A trade reversal message can be sent through RTTM to exactly offset an inter dealer transaction that has already been matched at RTTM These messages are not technically transactions and therefore are not shown in Trade Management They are shown however in Error Code Review and Response and in the Search functions of RTRS Web For information on how to submit a trade reversal view the Specifications for the Real time Reporting of Municipal Municipal Securities Rulemaking Board 48 Real Time Transaction Reporting System Web Users Manual Securities Transactions Once a trade reversal has been sent reversing a particular transaction that particular transaction will be marked as having been reversed O Reversed transactions are still transactions much like canceled transactions and will therefore be shown in Trade Management as well as in other functions of the w
7. on trades that received unsatisfactory error codes and trades that were reported with Special Condition Indicators The report is provided in Microsoft Excel format To view the report select the desired month select download report and save the file to your computer You can then open the report in Microsoft Excel or any program that can open xls files SUGGESTED SEARCHES 1 ALL TRADES SUBMITTED TODAY THAT WERE SUBMITTED LATE Selecting this option provides the Error Code Review and Response screen with filters set for the selected EBS and or submitter ID current business day and the N913 Late Trade Submitted After Deadline error code This filter shows all late trades submitted for the current business day Municipal Securities Rulemaking Board 43 Real Time Transaction Reporting System Web Users Manual 2 ALL TRADES SUBMITTED TODAY THAT RECEIVED UNSATISFACTORY ERROR CODES Selecting this option provides the Trade Management screen with filters set for the selected EBS and or submitter ID current business day and unsatisfactory status This filter shows all unsatisfactory trades submitted for the current business day 3 ALL TRADES SUBMITTED TODAY THAT WERE REJECTED BY RTRS Selecting this option provides Unapplied Messages screen with filters set for the selected EBS and or submitter ID and current business day This filter shows all rejected trades submitted for the current business day Municipal Securities Rulem
8. or NSCC participant ID and that submit for another dealer may be assigned modify and cancel privileges for IDRO transactions via RTRS Web e An effecting broker can t see IDROs submitted by its clearing firm on its behalf e Aservice bureau may also be assigned view privileges to IDRO transaction data via RTRS Web for those transactions they have submitted on behalf of a firm Municipal Securities Rulemaking Board 11 Real Time Transaction Reporting System Web Users Manual 6 BASIC RTRS WEB NAVIGATION Key functions of RTRS Web include submitting transactions viewing and modifying recent transactions and searching for transactions Just moments after submission this user friendly site gives detailed information regarding your transaction submission and any compliance errors that occur It keeps you abreast of your current transaction reporting status as well as your transaction reporting history This section of the User Manual describes some of the basic navigation and visual aides used in the interface to help you get the information that you need Home MSRB RTRS Microsoft Internet Explorer aax File Edit View Favorites Tools Help O x El k tf 3 Masthead Links Back Forward Stop Refresh Home Search Favorites History Mail Prini Links gt PRE Address El https 200 10 20 70 rtrsweb controller do cmd home Paa E IIl MSRB 5 s Test User for Municipal Securities Rulemaking Board Ho
9. the message was received by the MSRB late nae T MSRB emaking Board Home New Trades View Trades Reports Most recent message received by RTRS for this particular transaction INTER DEALER TRADE ID TBMN35313448 Back to Trade Management Trade information Message history Export Trade Data Gd trade report questionable Received i Trade Date baal Message Message Sender Message Number red Date Time Type Sendar Medium jicator QO 06 07 2005 Matched 546475BK9 B MSRB 30 000 TBMN353134481305 06 06 2005 06 09 2005 SYST 0122 RTTM 0003353134481305 Yes 10 40 04 Dueto Event Exact Message Match 06 07 2005 Instruct 546475BK9 B MSRB 30 000 0 TBMN353134481305 06 06 2005 06 09 2005 SYST 0122 Interactive TBMO353134481305 Yes 10 40 04 Messaging First message received by RTRS for this particular transaction Ilemaking Board Site designed by To scroll through the listed transactions without returning to your results page click on the next trade and previous trade buttons located at the top right of the Trade Information screen Municipal Securities Rulemaking Board 28 Real Time Transaction Reporting System Web Users Manual 14 MODIFYING AN EXISTING TRANSACTION You may select a transaction to modify via the Search features Trade Management or Error Code Review and Response pages To display the transaction click on any of the information in the line for the trade desired t
10. trades where the time of trade submitted by your firm differs from the time of trade submitted by the contra party by more than 15 minutes Data shown in column A Your Time of Trade should match data shown in column B Contra Time of Trade Q44F Contra Party You Indicated is not the Contra Party on the Matching Side This section lists inter dealer trades where the effecting broker and contra party effecting broker submitted by your firm differs from the effecting broker and contra party effecting broker submitted by the contra party Data shown in column B Your Submission Information Effecting Broker should match data shown in column H Other Side Submission Information Contra Effecting Broker Data shown in column D Your Submission Information Contra Effecting Broker should match data shown in column F Other Side Submission Information Effecting Broker The Discrepancy Error Code Report can be printed by selecting the small print icon at the top right of the screen This function will print all data in all three sections The report can be exported in CSV format for use in Microsoft Excel or a similar program by selecting Export Report Data from the heading of the report This function will export data in all three sections 2 DESTINATION CODE REPORT The Destination Code Report provides a list of inter dealer transactions where both your firm and the contra party firm submitted to RTTM Only DESTO01 in addition to trade
11. user is the effecting dealer of the transaction and did not submit on their own behalf then select the user s EBS If a user has more than one EBS the user must choose which EBS to use for this transaction Par All Must reflect face amount not units Participant Customer and Select Agent or Principal Capacity IDRO Settlement Customer and Must be a valid date Date IDRO Must be greater than the Trade Date Special All Part A indicates if the transaction has an exception to the standard Condition 15 minute reporting rule Indicator Part A Special All Part B indicates if the transaction has a special condition that affects Condition the Price Municipal Securities Rulemaking Board 46 Real Time Transaction Reporting System Web Users Manual Field Name Transaction Validation Rules Type Indicator Part B Trade Date Customer and Must be a valid date IDRO Must not be in the future Must be within a 90 day period from the current day Time of All Time is entered in eastern military time and must be a valid time Transaction The time of transaction may not be modified to be greater than the time of transaction submitted on the original instruct message For example if the Trade Date and Time is originally submitted as 01 01 2004 at 1 00 PM the time may be modified to be earlier than 1 00 PM on that day but not later Weighted All Select Yes or No Average Price XREF Customer and 16 character control nu
12. when you receive an error code Q have modified information on an inter dealer transaction post match Will my modifications be reflected in the Discrepancy Error Code Report and the Destination Code Report A No The Discrepancy Error Code Report and the Destination Code Report will show data as available at the time of match Any subsequent modifies or cancels will not be reflected For further questions please refer to Section 20 Getting Help B Specifications for Real time Reporting of Municipal Securities Transactions document is available at http www msrb org Market Disclosures and Data MSRB Systems and Support Real Time Transaction Reporting System RTRS Users Guide aspx Municipal Securities Rulemaking Board 51
13. 02 0011353091481305 06 03 2005 06 08 2005 06 07 2005 2 428059AP4 S Inter dealer MSRB 20 000 112 416 RW24353102481305 06 06 2005 06 09 2005 06 09 2005 2 546475BK9 B Inter dealer MSRB 30 000 104 931 TBMN353134481305 06 06 2005 06 09 2005 06 07 2005 645916652 5 Inter dealer MSRB 3 850 000 100 0581353136451305 06 06 2005 06 07 2005 06 07 2005 7s6005Fs2 Interdealer MSRB 2 300 000 100 2004353077461305 06 06 2005 06 07 2005 06 07 2005 m 7eaosocss S Customer MSRB 15 000 106 8 3 018 2099353097481305 06 07 2005 06 10 2005 06 07 2005 Q 937071LR7 S Customer MSRB 15 000 101 036 3 2 0504353093481305 06 07 2005 06 15 2005 06 07 2005 Viewing 1 7 of 7 trades matching your search criteria Export Trade and Error Data Municipal Securities Rulemaking Board 36 Real Time Transaction Reporting System Web Users Manual XREF RW24353102481305 received both an N913 error code and a 22F error code so this XREF is on two lines in the export file one for each of the two error codes IIl MSI Microsoft Excel controller do Read Only Bi Edit View Insert Format Tools Data BANGA A ERROR COE E CSV file resulting from export Last updated 06 5 XREF 0011353091481305 N9313 54 Open in Microsoft Excel XREF RW24353102481305 N913 A Ear T7 I Viewing 1 7 of 4 XREF RW24353102481305 22F 428059AP4 6 6 2005 15 19 57 6 9 2005 MSRB XREF TBMN353134481305 N913 546475BK9 6 6 2005 12 10 01 6 9 2005 MSRB XREF 05813531
14. 06 07 2005 2 645916E52 5 Inter dealer MSRB 3 850 000 100 0581353136451305 06 06 2005 06 07 2005 06 07 2005 2 786005F52 S Inter dealer MSRB 2 300 000 100 2004353077461 305 06 06 2005 06 07 2005 06 07 2005 2 5758956R3 B Inter dealer MSRB 50 000 103 629 7 0500353151481 305 06 07 2005 06 10 2005 06 07 2005 O 64971SAB5 S Inter dealer MSRB 1 500 000 0 9 3 0381353106461305 06 07 2005 06 10 2005 06 07 2005 757564HE2 B Inter dealer MSRB 20 000 100 493 7 0081 353128481305 06 07 2005 06 10 2005 06 07 2005 ij 2 770084EF4 S Inter dealer MSRB 3 400 000 0 iJ F111353092481305 06 07 2005 06 07 2005 06 07 2005 2 932432NU7 S Inter dealer MSRB 415 000 DU 4 399 0557 353189481305 06 07 2005 07 14 2005 06 07 2005 viewing 1 10 of 10 trades matching your search criteria Export Trade Data lt Municipal Securities Rulemaking Board 35 Real Time Transaction Reporting System Web Users Manual gt Edit View Insert Format Tools Data YW Type a question for help amp x SAMUTISIET amp R 10 S22 5 3 gt gt TRADE MAN E gt aaa AA Trade Date Tin CSV file resulting from export mediate Broker Last updated 06 5 YREF 0011353091481405 6 3 2005 open in Microsoft Excel ae XREF RW24953102481305 4280594P4 6 6 2005 Viewing 1 10 of 4 yREF TBMN353134481305 546475BK9 6 6 2005 12 10 01 6 9 2005 MSRB XREF 0581353136451305 6 46E 57 6 6 2005 16 10 00 6 7 2005 MSRB XREF 2004353077461305 786005FS52 6 6 2005 13 42 02 6 7 2005 MSRB XRE
15. 31 Real Time Transaction Reporting System Web Users Manual 16 UNAPPLIED MESSAGES The Unapplied Messages screen allows you to view your unapplied message activity from the prior month up to the current business day Unapplied messages include messages that were submitted by or on behalf of the user s firm that were rejected by RTRS and therefore not applied to any current transaction report within RTRS For example if a modify message for a customer transaction report is received but the instruct message can not be found based on the control numbers provided that modify message would be rejected by RTRS and the modify message would appear in the Unapplied Messages screen When a match of a comparison only submission or step out trade occurs it is considered an unapplied message RTTM forwards to RTRS a match record for the step out submission If the match record can not be applied to any previously received instruct because the instruct was sent to RTTM only that match record becomes an unapplied message For further information about step out submissions see MSRB Notice 2005 22 To reach the Unapplied Messages screen select View Trades from the menu bar and then Unapplied Messages from the drop down or select Unapplied Messages from Quick Links For a list of reasons why the MSRB would reject a transaction message refer to the Specifications for Real time Reporting of Municipal Securities Transactions 6 N
16. 36451305 913 6 46E 57 6 6 2005 16 10 00 6 7 2005 MSRB XREF 0581353136451305 Q22F 6 46E 57 6 6 2005 16 10 00 6 7 2005 MSRB J REF 2004353077461305 N913 786005F82 6 6 2005 13 42 02 6 7 2005 MSRB F 2004353077461305 Q22F 786005FS52 6 6 2005 13 42 02 6 7 2005 MSRB 2099353097481305 N913 764080084 6 7 2005 9 33 00 6 10 2005 MSRB 504353093481305 NG13 937071LR7 6 7 2005 9 15 23 6 15 2005 MSRB Submission Date 59259N 06 07 2005 428059 06 09 2005 546475 K 3 06 07 2005 Note one line for each error code received 645916 by each transaction in the results set 08 07 2005 786005 f21 06 07 2005 22 764080914 gt iN controller i 06 07 2005 937071 Ready 3 060712005 Viewing 1 7 of 7 trades matching your search criteria Export Trade and Error Data To export all data for a particular trade select a transaction to export by first locating the transaction via the Search features or by locating it through the Trade Management or Error Code Review and Response pages To display the transaction click on any of the information in the line for the trade desired to be brought to the Trade Information screen for the particular trade Once you have located the desired transaction to export the trade data 1 Select Export Trade Data from the top right of the page above the trade information 2 Select Save and input the desired file name and location 3 Select Save again Municipal Securities Rulemaking Board 37
17. 49481305 06 07 2005 06 10 2005 06 07 2005 171314GE1 B Inter dealer MSRB 75 000 O 0 3 48 0529353605481305 06 07 2005 06 10 2005 06 07 2005 2077 2EVX8 8 Inter dealer MSRB 20 000 0 0011353655481305 06 07 2005 06 09 2005 06 07 2005 342812262 8 Inter dealer MSRB 50 000 0 TBK7 353653481305 06 07 2005 06 10 2005 06 07 2005 425200D58 S Inter dealer MSRB 10 000 0 0012353594481305 06 07 2005 06 10 2005 06 07 2005 472682GK3 B Inter dealer MSRB 95 000 0 2929 0395353591481305 06 07 2005 06 10 2005 06 07 2005 544652768 S Inter dealer MSRB 25 000 0 2 968 0550353622481 305 06 07 2005 06 10 2005 06 07 2005 611077AE8 B Inter dealer MSRB 10 000 0 TBGP353485481305 06 07 2005 06 10 2005 06 07 2005 647310ZY0 B Inter dealer MSRB 6 765 000 O 3 947 0475353675481 305 06 07 2005 07 13 2005 06 07 2005 647310ZY0 B Inter dealer MSRB 95 000 100 24 3 0231 353678481305 06 07 2005 07 13 2005 06 07 2005 649716M87 S Inter dealer MSRB 150 000 0 2054353576481305 06 07 2005 06 09 2005 06 07 2005 lt The filters that have been pre defined for managing your messages are as follows Transaction types Display only inter dealer transactions only customer transactions only IDRO transactions or all transaction types Submission Date Time Frames Include pre defined time frames to filter your transactions Effecting Broker Symbol EBS Select from a list of effecting broker symbols registered with the MSRB for your firm or from a list of effecting broker symbols that your f
18. DITION INDICATORS Q A How do add a Special Condition Indicator to my trade You can add a Special Condition Indicator to your trade from the Enter New Customer Trade or Enter New IDRO Trade screens when you first submit a trade or you can add a Special Condition Indicator to an already existing trade by using the Modify function When submitting or modifying a trade select the Special Condition from the drop down either an extension to the 15 minute deadline or to indicate that the trade was executed at a price away from the market price For further information on Special Condition Indicators see the Specifications for Real time Reporting of Municipal Securities Transactions What does the Special Condition Indicator RTRS Processing Error Caused Invalid Data mean In early 2005 startup difficulties involving RTRS and RTTM caused a small number of inter dealer submissions to be corrupted after they were submitted by dealers The MSRB has set the Special Condition Indicator of these submissions to the value RTRS Processing Error Caused Invalid Data PRINTING AND EXPORTING Q How can print the list of trades that have received from the Trade Management or A Error Code Review and Response pages There are two ways to obtain a print out of a results set using the small print icon on the top right of the screen to print the data as displayed on the screen or using the export function to create a file wit
19. EF Dollar Price Clearing ID Accrued Interest 670 830 Trade Reporting Indicator Cash Bilatera Final M inal Money QSRiTarget QSR Yield Issue Type You may modify any of the data elements that are not set to view only View only elements are presented in light gray type whereas modifiable elements are in black type Certain fields have limited access based on the type of transaction inter dealer customer or IDRO A list of data elements and their data entry validations is provided in Appendix A Validation Logic by the type of transaction All required fields must be entered Required fields are indicated on screen by a red asterisk Note that data requirements may be different for each type of trade See MSRB Rule G 14 for further information about what is required for each type of trade Municipal Securities Rulemaking Board 29 Real Time Transaction Reporting System Web Users Manual If you want to clear any changes that you have made to the transaction prior to saving them you may press the reset trade button This will reset the transaction to reflect the data you started with when you first selected the transaction Once you have completed your edits select the modify trade button to submit your changes RTRS Web will first affirm that you have passed the data entry validation checks and if so will display a confirmation page with your unique message submission number If you have failed one or mor
20. F 0500353151481305 5758956R3 6 7 2005 10 54 00 6 10 2005 MSRB XREF 0361353106461305 G4971SABS 6 7 2005 10 10 43 6 10 2005 MSRB XREF 0081353128481305 757564HE2 6 7 2005 10 33 41 6 10 2005 MSRB 06707 2005 REF FI11353092481305 770084EF4 6 7 2005 9 52 23 6 7 2005 MSRB REF 0557353189481305 932432NU7 6 7 2005 11 18 58 7 14 2005 MSRB 06109 2005 59259N1 428059 5464751 06 07 2005 645916 06 07 2005 786005 06 07 2005 575895 06 07 2005 PAA 64p 06 07 2005 Note one line for each transaction in 06 07 2005 results set QO OOOD0O000Q 06 07 2005 932432073 Inter dealer WSRE T5000 T4309 Dea gases ae AA 06 07 2005 Viewing 1 10 of 10 trades matching your search criteria Export Trade Data If you export a list of trades from Error Code Review and Response you will receive a file with one line for each error code for each transaction in the list In the example below seven transactions were exported TT MSRB Home New Trades View Trades Reports ERROR CODE REVIEW AND RESPONSE Last updated 06 08 2005 at 08 45 20 AM Refresh activity Viewing 1 7 of 7 trades matching your search criteria Export Trade and Error ot Show me with error code submitted within this date range altradetypes x O nora Mookup O ton Bo ai Co iv gg Submitter o v O Pa a filter trades Trade Date Settlement Date Submission Date 59259NHY2 S lnter dealer MSRB 40 000 109 7
21. Once your user ID and password are entered the system identifies you as a valid RTRS Web user and directs you to the MSRB Gateway Main Menu Click the RTRS Web Interface option under the Market Information Systems sub menu in order to access the system MSRB ES Protect ng by ameer ona a ES o sil MH 2 i A oon ee Stens Precy Tistemert Sam Mac ETO Muncee Securtes Rumnaung dcere 1502 Duke Street Sute 600 Amxangra VA 22314 Figure 4 1 Municipal Securities Rulemaking Board 7 Real Time Transaction Reporting System Web Users Manual PERMISSIONS Once your user ID is authenticated RTRS Web will determine your user permissions according to the privileges granted to your user ID by your firm s Primary G 40 Contact see Section 3 Managing User Accounts for further information on adding editing and removing privileges User permissions may also be assigned by the MSRB based on the type of company you are associated with e g clearing firm correspondent or service bureau Users associated with the same firm may have different privileges as assigned by the firm s Primary G 40 Contact as follows e View To view the transactions as well as compliance status and error codes received by each transaction e Modify To modify information for a transaction e Submit To submit a new transaction e Cancel To cancel a transaction e Reports To run reports for the firm Permissions wi
22. Real Time Transaction Reporting System Web User Manual Version 3 0 Municipal Securities Rulemaking Board Real Time Transaction Reporting System Web Users Manual IMMM TABLE OF CONTENTS 1 INTRODUCTION 6 PAMARAAN AA 4 OVENI ainun Aha ei aa ada a Aaldiiniaa daw aa Nam E a S a a 4 Transactions in Securities Subject to Mandatory Transaction REporting cseccccssscsccessessssessesessesseecssnsseeessnsseeseseeeassnseeeessuseeeassneeesansaceseansaeensansaseesansneeesansaeeesenteas 4 Website Security and Configuration Requirement cscecsesessessssssssesssessesnessesesneeseseeaeeseaeeneeseseeaeeseseeseeaesusseesesusseeassuseeeacsuseseacsnseseansaeeseaneaeeseaneneeseaneateseaeeaeeesaeass 4 3 COMPLETE FORM RTRS ciscstatcstercaccrssecedesisacstnsciccsianttaanccusondassnsnesedestiataconthdandsinsadnnsatecsnespsdaistensthanacostsetacansesdnscivostieandiaiadesuandaxonteednccnstaisieatocinesiaeectaes 6 4 USER SIGN ON AND PERMISSIONS cscsssssssesessesesesssseeesseseesesseesseseenenseseeseaceneaseeeaeseaneaeeseeeaeaeseaseseaeseaneaeaseeeaeaesneasaseeeseaeaneaeeseneaeateneaseeeeeaeaneaes 7 User SION Oinon ne N A E a da ade a naa E 7 Permissions ana AA a A A A ee A AUA 8 5 RTRS WEB ACCESS LEVELS csiscascsscicstsevisccsssceisstanivasancacsaatsczanesesessteesaces isnaseexcadschvesssuctvnstnessasavsancvesd aaa Aaaa RAET ARR 9 What type of user are you and what is your role cesceesseseestssesseseseesesaese
23. Response or Search function search or all data for a particular trade Exports are in CSV format and can be opened in Microsoft Excel or any similar program To export a list of trades received as a result of a Trade Management Error Code Review and Response or Search function search 1 Use the filter criteria at top of page to return desired list of trades 2 Select Export Trade Data from the top of the page above the results 3 Select Save and input the desired file name and file location 4 Select Save again Note that if you export a list of trades from Trade Management you will receive a file with one line for each transaction in the list The export will not include error code information W MSRB Home New Trades View Trades Reports TRADE MANAGEMENT amp Last updated 06 08 2005 at 08 43 29 AM Refresh activity Viewing 1 10 of 10 trades matching your search criteria Export Trade ost Show me Inter dealer trades iv in questionable status x submitted within prior business day for MSRB x and any Submitter ID iv Bis Trade Type EBS Par Value Price Yield Trade Date lement Date Submission Date O 59259NHY2 S Inter dealer MSRB 40 000 109 702 0011353091 481305 06 03 2005 06 08 2005 06 07 2005 O 428059AP4 S Inter dealer MSRB 20 000 112 416 RWV24353102481 305 06 06 2005 06 09 2005 06 09 2005 O 546475BK9 B Inter dealer MSRB 30 000 104 931 TBMN3531 34481305 06 06 2005 06 09 2005
24. a Reversal Control Number 1295010633 Special Condition No extension v No special price x Service Bureau ID Message Sender ID 0122 v Regulato Comparison Information Section for Inter dealer transactions only XREF Previous XREF Dollar Price alas Ung in Accrued Interest Trade Reporting Indicator Final Money QSRiTarget QSR Yield Issue Type The Trade Information screen provides the most current view of the transaction as it has been reported by the dealer according to the MSRB s records For inter dealer transactions the Transaction Information tab is separated into two sections The upper section applies to regulatory only reporting data The lower section applies to transaction data that is used both for clearing and settlement as well as for regulatory reporting Customer and IDRO transactions have only one section since customer and IDRO transactions do not have information required for clearing and settlement Appendix A Validation Logic presents an alphabetical list of all transaction elements that may be viewed via RTRS Web along with a brief description of each The Trade Information screen also provides the regulatory status and any compliance issues with the transaction as found by the MSRB The overall status of the transaction can be found in the top left corner of the page just below the Trade Information tab Beneath the overall status any error codes received by the transaction
25. acaidinadanaiddaduhagdananasnildaciaiaadandaddadaladiaddanadadanalachadaundeldedulagiaadinaelidaanuaeliuadiaanind 1 Discrepancy Erot Code REDON sssecccsiesictsacteraseessneasselelarive anataetneteei natal E anata aa a duties utarauiiel a EEr A E rE 2 Destination Code REpon paaa Lan ALABANG Aamin dda AANO anand 3 Report of Correspondent ccccssecscsesseseesesseeseseeseeeeseeseesesucseescsusseeacsusseeassueeeansueeseaeeneeseaeeneeseaneneeseaeeaeeseaneaeeceaeeaeeacseeseeacsesseeassuseseassaseteassnseseansaseseanenseseaneaeeseanes RIRS Data Qualy REDONS aaa sarees E eet ataide Meera ene areas 1 RTRS Dealer Data Quality Summary Report 2 RTRS Dealer Data Quality Summary of Correspondent s Trades Report escccsesecsecseseeseceseeessesseeessessesceansseeesensseesenseseasenseeeasenseseasenseseassnseneanenseeeaneaeeeeanes 43 3 RTRS Dealer Data Quality DetailiReponti amag aaa sina a dca ina antec ca E E 43 Suggested Searches w aiici a E a E aad eideae 43 1 All trades submitted today that were submitted late essesessesesseesesesseeseseeseesesessessesusseeassusseeassuseeeassuseseaneaeeseaneaeeseaneneeseaneaeesesneatecesneaeeasseeseeassnseteaseneeees 43 2 All Trades Submitted Today that Received Unsatisfactory Error COdeS e cscsescsecseseeseceesesecaesaceesansaeenesnsneeeeansaeeesenseeeesensesessnseeeesenseseasenseseansneeesaneasesseneaeeesanes 44 3 All Trades Submitted Today that were Rejected by RTRS cccscesseseesesseses
26. aking Board 44 Real Time Transaction Reporting System Web Users Manual 20 GETTING HELP MSRB Website www msrb org EMMA Website emma msrb org For assistance contact MSRB Support at 202 838 1330 or MSRBsupport msrb org Live Support 7 30 a m 6 30 p m ET Email Support 7 00 a m 7 00 p m ET Municipal Securities Rulemaking Board 1300 Street NW Suite 1000 Washington DC 20005 Tel 202 838 1500 Fax 202 898 1500 Municipal Securities Rulemaking Board 45 Real Time Transaction Reporting System Web Users Manual APPENDIX A VALIDATION LOGIC The following is an alphabetical list of transaction fields with the corresponding transaction type and validation logic for entry and modification via RTRS Web Field Name Transaction Type Validation Rules Buy Sell Customer and Enter Buy or Sell Indicator IDRO Commission Customer and Total dollar amount of commission IDRO CUSIP Customer and Must be a valid CUSIP number IDRO Dollar Price Customer and Dollar price is required on all regular way customer and IDRO IDRO transaction for which it can be calculated Either dollar price or yield is required on all when issued customer and IDRO transactions Message Inter dealer Select the user s submitter ID if the user is the submitter of the Sender Id transaction If a user has more than one submitter ID the user must choose which submitter ID to use for this transaction If the
27. al Securities Rulemaking Board 17 Real Time Transaction Reporting System Web Users Manual 10 TRADE MANAGEMENT The Trade Management screen allows you to view your trading activity and compliance results Filters are located at the top of the screen to facilitate easy selection and viewing of your transactions The filters have been pre defined for how you might typically work with your transactions However you may always use the search features of RTRS Web to access transactions outside of these pre defined filter criteria See Section12 Searching for a Transaction for information on the Search features of RTRS Web To reach the Trade Management screen select View Trades from the menu bar and then Trade Management from the drop down or select Trade Management from Quick Links Logged in as Test User for Municipal Securities Rulemaking Board Home NewTrades View Trades Reports Quick Search J TRADE MANAGEMENT Last updated 06 08 2005 at 08 31 49 AM Refresh activity Filter Bar Viewing 1 50 of 146 trades matching your search criteria Export Trade Data gt Show me all trade types iv in any status yl submitted within prior business day x for MSRB IC and any Submitter ID iv filter trades 28749765 8 Customer MSRB 100 000 106 316 3 6 0500353109481 305 06 02 2005 06 07 2005 06 07 2005 2 59259NHY2 S Inter dealer MSRB 40 000 109 702 0011353091481305 06 03 2005 06 08 2005 06 07 2005 2
28. anges to reported data The Summary Report can be viewed in a one month or twelve month version To obtain the one month report select the month desired from the drop down and select run report To obtain the twelve month report select the month for which you would like the twelve months preceding inclusive of the selected month and select run 12 month report Note that the twelve month report is only available in a CSV file not displayed on screen 10 Users Guides to Dealer Data Quality Reports are available at http www msrb org Market Disclosures and Data MSRB Systems and Support Real Time Transaction Reporting S ystem RTRS Users Guide aspx Municipal Securities Rulemaking Board 42 Real Time Transaction Reporting System Web Users Manual When downloading the file do not change the name of the file prior to saving The report can be seen on the RTRS Web screen and can be exported to a CSV file The report can also be printed as displayed on screen or from the export file The CSV file will provide data in the format made available to FINRA examiners Note that although the actual data provided in the on screen and CSV file formats is the same the CSV format displays the data slightly differently from the format displayed on the RTRS Web screen 2 RTRS DEALER DATA QUALITY SUMMARY OF CORRESPONDENT S TRADES REPORT The RTRS Dealer Data Quality Summary of Correspondent s Trades Report describes a firm s transaction re
29. applied Messages screen with the filters pre set To reach the Reports selection screen select Reports from the menu bar or select Reports from Quick Links From the Reports selection screen select the desired report by clicking on the heading of the report To use the Suggested Searches select an EBS and or a submitter ID and the type of Suggested Search you would like to view Then select filter trades to be taken to the list of transactions that you have selected Ill MSRB Logged in as Jie Li for MSRB Test Company 4 Home View Trades Reports Quick Search as search REPORTS RTRS DATA QUALITY REPORTS RTRS Dealer Data Quality Summary This report describes your firm s transaction reporting data for interdealer trades that you cleared for your own firm or for other firms and for your own firm s customer trades with regard to status match rate lateness and timeliness of reporting and number of changes to reported data It includes a lateness breakout of the trade data RTRS Dealer Data Quality Summary of Correspondent s Trades This report describes your firm s transaction reporting data for interdealer trades your firm effected and for your firm s customer trades with regard to status match rate lateness and timeliness of reporting and number of changes to reported data It includes a lateness breakout of the trade data RTRS Dealer Data Quality Detail This report identifies specific trades that
30. are counted in each category of the Dealer Data Quality Summary report OTHER REPORTS Discrepancy Error Code Report This report lists trades where the information submitted by your firm differs from the information submitted by the contra party firm resulting in a Q19F Q22F or Q44F error code Destination Code Report This report lists trades where both your firm and the contra party firm submitted to RTTM Only DEST01 in addition to trades where there was a destination code discrepancy DEST01 vs DEST01 02 between your firm and the contra party firm Report of Correspondents This report lists the company name and broker symbol of firms that have indicated to the MSRB that they have a clearing relationship with the requested submitter ID OTHER REPORTS 1 DISCREPANCY ERROR CODE REPORT The Discrepancy Error Code Report provides a list of inter dealer transactions where the information submitted by your firm differs from the information submitted by the contra side firm resulting in a Q19F Q22F or Q44F error code For a listing and description of the error codes refer to the Specifications for Real time Reporting of Municipal Securities Transactions 8 Specifications for Real time Reporting of Municipal Securities Transactions document is available at http www msrb org Market Disclosures and Data MSRB S ystems and Support Real Time Transaction Reporting S ystem RTRS Users Guide aspx Municipal Securi
31. button To facilitate quick and easy transaction submission when you have more than one trade to enter with similar data select Use this information for my next trade on the top left of the screen prior to selecting Submit Trade Your data will be saved and automatically copied to the next transaction page you will be required to enter a new External Dealer Control Number XREF as this must be unique to each transaction Once you have completed your entry click Submit Trade to submit your transaction RTRS Web will first affirm that you have passed the data entry validation checks and if so will display a confirmation page with your unique message submission number If you have failed one or more of the data entry checks you will be shown the data fields that have failed along with the reason and be asked to correct any errors and to resubmit by selecting the Submit Trade button once again ss seen eee ee ee ee ee Municipal Securities Rulemaking Board 14 Real Time Transaction Reporting System Web Users Manual 8 ENTERING A NEw IDRO TRANSACTION To enter a new IDRO transaction select New Trades from the menu bar and then New IDRO Trade from the drop down or select Enter New IDRO Trade from Quick Links LS SESE File Ect View Favortes Took Help B x Re sing ile Favorites New Customer Trade MSRB RTRS fey Gl yl om Pager Safety Toos XREF Buy Sell mmidaicoy ing Broker Submitter ID a
32. e if there is a difference in the time of trade between your side and the contra party side a questionable error code may be assigned resulting in a change from satisfactory to questionable regulatory status Q My trade received an N913 Late Trade Received After Deadline error code How can determine how late the trade was received A Locate the transaction in question by using the search functions or the Trade Management or Error Code Review and Response screens Compare the instruct received date time field to the dealer submitted time of trade and trade date fields to determine how long after execution time the trade was received Note that the time that the contra party submitted their side of the transaction and the time that the trade was matched has nothing to do with whether your side receives a late trade error code Q What happened to the field Message Prep Date Time in the first version of RTRS Web A This field was not used by the MSRB to determine lateness The field was removed and replaced with the lateness indicator field which tells you whether a particular message was marked late or not U Specifications for Real time Reporting of Municipal Securities Transactions available on the RTRS Users Manual at http www msrb org msrb1 TRSweb RTRS RTRSUsersManual asp Municipal Securities Rulemaking Board 49 Real Time Transaction Reporting System Web Users Manual SPECIAL CON
33. e of the data entry checks you will be shown the data fields that have failed along with the reason and be asked to correct them and to resubmit by selecting the modify trade button once again If you choose not to correct the errors you may select the back to Trade Management link and continue on with no modifications being made to the transaction Modifications are only made if you receive the confirmation page Municipal Securities Rulemaking Board 30 Real Time Transaction Reporting System Web Users Manual 15 CANCELING AN EXISTING TRANSACTION You may cancel a transaction via the Search features Trade Management or Error Code Review and Response pages To display the transaction click on any of the information in the line for the trade desired to be brought to the Trade Information screen If you have cancel privileges the transaction will be presented in edit mode with the cancel trade button available to you Otherwise the transaction will be presented in view only mode and none of the data will be accessible If you do not have cancel privileges you will not be able to cancel the transaction Please refer to Section 4 User Sign on and Permissions for further information about privileges available in RTRS Web Jj MSRB Home New Trades View Trades Reports CUSTOMER TRADE ID 2051353716481315 MSRB l Export Trade Data Back to Trade Management Export Trade Data Gb coe PAA os nanny Cette aton B
34. eaty ease Ore net anne E eo Regulatory Notices 2 N913 LATE Trade reported after deadline XREF 051 363716481315 Eng Buy x CUSIP 542690M Capacity Principal Trade Date 56 02 2005 Pelli 500 000 mount mmiddiceyy Dollar Price 400 00 Time of Trade Military ET 09 35 53 hh mm ss YMA Settlement Date 06 09 2005 Unknown Commission 5 mmiddiecyy aome average No x rice i Submitter Effecting Broker Special Condition EOD Variable rate auction rate CP x Intermediate Broker No special price Message Sender ID 0122 Lateness Indicator es ane 0541353716481315 Instruct Received Date Time 08 2005 09 25 52 Regulatory Control Number Trade Reporting Indicator Previous XREF Market of Execution Only customer and IDRO transactions may be cancelled via RTRS Web Inter dealer transactions may only be cancelled via FICC Once you have determined the transaction you want to cancel press the cancel trade button to submit your request RTRS Web will first affirm that you want to cancel the transaction and present the affirmation message If you select Continue a cancellation message is sent to RTRS RTRS will then display a confirmation page with your unique message submission number If you select not to continue you will be returned to the transaction screen A transaction cancellation is only made if you receive the confirmation page Municipal Securities Rulemaking Board
35. ebsite Note that to be reversed both parties to a transaction must send in a reversal message that reversal message must match at RTTM and both parties must properly reference the original trade using the reversal control number field If any of these steps are unsuccessful the trade will not be marked as reversed How can I view all of my late trades The Error Code Review and Response page is available for viewing all trades that have received a particular error code such as an N913 Late Trade Received After Deadline error code From the Error Code Review and Response page select your EBS and submitter ID and submission date range Input N913 into the error code field on the filter bar or use the Look Up function to find the late trade error code or any other error code and select the error code to automatically insert it into the error code field in Error Code Review and Response Select filter trades to view your results See Section11 Error Code Review and Response for further information TO Q Occasionally when I view an inter dealer transaction the regulatory status is satisfactory If view it again later in the day the regulatory status has changed to questionable What happened A Some error codes are not assigned to an inter dealer transaction until the match record is received and the MSRB can compare your data to that of the contra party At the time a trade is matched with the contra party for exampl
36. ed for searching e g 123456 will return all CUSIPs beginning with the characters 123456 e Trade Date Enter a specific date or date range Municipal Securities Rulemaking Board 23 Real Time Transaction Reporting System Web Users Manual ke e Instruct Submission Date Enter a specific date or date range for the submission date of the instruct or original message e Recent Submission Date Enter a specific date or date range for the submission date of the most recently received message for a particular transaction which could include a modify cancel instruct or match record depending on the transaction e Par Enter the par value as less than greater than or equal to the value on the transaction you want to select e Dollar Price Enter the dollar price as less than greater than or equal to the value on the transaction you want to select e Yield Enter the yield as less than greater than or equal to the value on the transaction you want to select e Final Money Enter the final money as less than greater than or equal to the value on the transaction you want to select e Settlement Date Enter the settlement date as less than greater than or equal to the date on the transaction you want to select e Buy Sell Select transactions for which you are the buyer the seller or select the any option to disregard this value in your search e Special Conditional Trade Select the transactions that w
37. eeeseaesnenesseeeeaeseasesesseaceseaeaseaeseaseseaseseaeaeaneasaseeeseaeaneaeeseneneasenenseseeaeas 16 10 TRADE MANAGEMENT Janna cosetsssccnstenhanscasenstndscsrasssadtecesesguncnssndaratdaveastncadseasustine GRAN GE 18 11 ERROR CODE REVIEW AND RESPONSE a anaama anan anan ascscasdnisceiscnactcenconcstbesascesnn AN nda cvtens nenscantasticaesrinss cate da gaidas idana 20 12 SEARCHING FOR A TRANSACTION iscssstscescascssssesicscisciscasencescsesnsasceite evesttnevesedinsntcivensenced dnsetteiee cond aiescetaitud saacadenlet sabnaesediecaiesvenceiandiaanteadeasetiee 23 13 VIEWING AN EXISTING TRANSACTION AND ITS MESSAGE HISTORY csccssssssssessesessessseetesesesnesseeeseaesneaeeseeeaesseneaeeeeneaeaseaeeseeeanananeneateas 26 14 MODIFYING AN EXISTING TRANSACTION c scssssessssessssssssesseseseessseesesesessssseeeeaesneneesesesesceneaseeeaesescenesseeeaeaesneaeeseseaeaseaeaseeeeseaseaeaseeeanataneasatess 29 15 CANCELING AN EXISTING TRANSACTION sesssessssessssssseessesesneseseeeesessesesseeeeaeseseesessseaceneaseeeseseaceaeaseeeseaeseaseseeaeaceaeaseeeneaeaseaeeseeeanataneneaeas 31 16 UNAPPLIED MESSAGES maa NAINA NITA DID KR KG Tf EXPORTING DATA naaa aNG ABER PRAGUE 18 PRINTING DATA wisssisss sccecsisce cast scasiicsteasecestancsenstenscasessastssayscandastncea seaioudsnuntse stale ance hai sanvtulescaescsiaucieestnescuatedbanssrovsuderasenesd Eaei daanan fantaa aa aN 192 REPORTS anG GIGGLE PAA ANAL IGAN Other Reponts snv
38. er ID Select from a list of submitter IDs registered with the MSRB for your firm Municipal Securities Rulemaking Board 18 Real Time Transaction Reporting System Web Users Manual If you access the Trade Management page from the Recent Trading Activity page by clicking on one of the highlighted numbers the Trade Management filters will be pre set upon entry to the criteria representing the number you chose Once you have chosen your filter criteria select the filter trades button to view a list of transactions that match your criteria The Trade Management page will give you some of the basic information about your transaction including e Regulatory Status Icon e CUSIP e B S Buy or Sell e Transaction Type Inter dealer customer or IDRO e EBS Effecting broker symbol for the effecting dealer on the transaction e Par Value e Price If provided by dealer e Yield If provided by dealer e XREF Dealer control number e Trade Date e Settlement Date e Submission Date To sort the data by any of these criteria click the column heading once for ascending order and twice for descending The results of your search criteria are limited to fifty pages and 3000 transactions To view the complete information on a specific transaction click on any information in the line for that transaction to be brought to the Trade Information screen for that transaction For the most current information use the blue Refresh Ac
39. er dealer municipal securities transactions for comparison either for itself or on behalf of another dealer has specific responsibility to ensure that transaction reporting requirements are met with respect to those aspects of the comparison process that are under the submitter s control Dealers may play the following roles on a transaction report Submitter The submitter is the agent employed by the effecting dealer to report the transaction to the MSRB on behalf of the effecting dealer Effecting Dealer Dealers who effect transactions are required by the MSRB and by other organizations to comply with MSRB rules including but not limited to conduction of a suitability review sending the customer or having the agent send the customer a confirmation reporting the transaction to the MSRB and charging a fair and reasonable price WHAT TYPE OF USER CAN ACCESS WHAT TYPE OF TRANSACTION Data access is determined based on the user s company type role in the transaction and the type of transaction being accessed Inter dealer Transactions All submissions modifications to match data and cancels of inter dealer transactions must be made by via RTTM and will not be permitted via RTRS Web e All user types may be assigned view privileges to the match transaction data and to the regulatory data via RTRS Web e Both clearing firms and effecting dealers but not service bureaus may be assigned to modify privileges for regulato
40. ere tagged with a specific value or select the any option to disregard this value in your search e Transaction Type Select the values of customer inter dealer or IDRO to search on those specific transaction types or select the any option to disregard this value in your search e Regulatory Status Select the values of satisfactory unsatisfactory or questionable to search on those specific regulatory states or select the any option to disregard this value in your search e Canceled DKed or Reversed Select the value of DK to search for inter dealer transactions that have been marked by RTTM as DKed Select the value of canceled to search for inter dealer customer or IDRO transactions that have been canceled Select the value of reversed to search for inter dealer transactions that have been reversed Use the canceled DKed or reversed option to search for transactions that have been marked as any of the above Select the any option to disregard this value in your search e Memo or Pending Select the value of memo to search for transactions that have been placed by RTTM in memo status Select the value of pending to search for transactions that have been placed by RTTM in pending status Use the memo or pending option to search for transactions that have been placed in either status Select the any option to disregard this value in your search e Match Status Select the value of match to search for transactions that have bee
41. esesneeseseeneeseaeeneeseaeeneeseseeseeaeseeseeaesesseeacsusseeacsuseeeassuseteacsaseseansaeeseaneneeseaneaeeseaneneeseaneaeeesaeass 9 USES nana n AA AA 9 ROIGS citi anaa mana canna a A A een Seid atin aS EN Ea S A AA AA 9 What type of user can access what type of transaction cccesceccesessessesteseeseseseseesneeeesesueeeesesneeceansneeseansaeeneansaeeceensaeeeesnseeeasssesesenseseisenseteassnseteansnseesansnseeeeneaeeesanes 10 6 BASIC RTRS WEB INAVIGATIION cscisscsscseocentsisascssnscesescsnescncesensscnnsareseunasstantannedsnsnanesnasentessnansienseaenssisndaanctarseasua avecdanstasnstacesassaransaceedsesssiensaronsasseaias 12 Masthead LINKS 4 atatsccsceisersare tpites Naa aint aa Sani aai ei aan aata a ater 12 Menu Balt tasted E E EAE A E ad basi aden agent ani AA AUNG AA aimed aden natant 12 GUAN AA AA eg aint eater odoin AA 13 eto AT 0 EAEE terre etree ve Wie EEA AA AA 13 Sorting RESUNS 25m KANG Matai E A add eaGhall adnan kd ddvaahadadwinaanddvGhadudaawn KALABUAN 13 7 ENTERING A NEW CUSTOMER TRANSACTION csssssssessesesesseseeessesesneseneeneseseesesseeeeaesneaseseesseaeeeaesseaeseaseaeaseseaeaeaneneaseeeseaeaneaeasesanasaneaseseaeaees 14 8 ENTERING A NEW IDRO TRANSACTION cscscessssessssssssessesesnessseeeesesesnensseeseseanenesseeeeaeanenseseeseacenensaseaeaeaceaeaseseeaeaceneaseeeseaeeneaeaseteaeansnenseeeaeaeas 15 9 RECENT TRADING ACTIVITY scsccssssssssessssessssssseessssessessaseeseaesnesessesssescseas
42. esseseseesesueeccaesneeneansaeeneansaeensansasencansaeeesenseeeesenseseassseeeiseneeneaseneeseassnseeeansnseesansneeeeants 44 20 GETTING HELP i scscactctsciescetitveveccaxesesantveacecvewcateuratean sesatecusecdvsussuarasunes estas ivenuee tewsavevsavached tunes vesanedieasts GG DAG AKA aware uneven Suan 45 Municipal Securities Rulemaking Board 2 Real Time Transaction Reporting System Web Users Manual ke APPENDIX A VALIDATION LOGI Crinan a aae aa accede oe Se APPENDIX B COMMON QUESTIONS AND ANSWERS Managing user accounts User sign on and permissions RTRS Web Access Levels Basic RTRS Web Navigation Special Condition Indicators Printing and Exporting es mam aa a a aaam mmm ee Municipal Securities Rulemaking Board 3 Real Time Transaction Reporting System Web Users Manual 1 INTRODUCTION OVERVIEW The purpose of the MSRB s Real Time Transaction Reporting System RTRS is to increase price transparency in the municipal securities market and enhance the surveillance database and audit trail used by enforcement agencies RTRS Web is a reporting mechanism for submitting modifying and canceling customer transactions and inter dealer regulatory only IDRO transactions as well as for modifications to regulatory data on inter dealer transactions This document explains how to use RTRS web to fulfill MSRB transaction reporting requirements
43. h all data for all transactions displayed in the results set Note that if you use the print icon you will need to print each page in your results set i e if there are 100 records returned only 50 will display on each page and only those 50 displayed on the screen ata time will print in this example you will need to print the first page then scroll to the next page and print that second page separately How can generate an export of all trades that have received error codes including the error codes they received From the Error Code Review and Response page set the filters for the EBS submitter ID and submission date range you desire Then select the error code category Questionable to display all trades that have received questionable error codes Use the export feature to create a list of all trades with questionable errors including the error codes they received You can generate a list of all trades with unsatisfactory error codes by repeating the process with the error code category Unsatisfactory Note that because a transaction may have both questionable and unsatisfactory error codes any transaction may appear in both the questionable error code category results and in the unsatisfactory error code category results 12 Specifications for Real time Reporting of Municipal Securities Transactions document is available at http www msrb org Market Disclosures and Data MSRB S ystems and Support Real Time Transaction Rep
44. ing the Submit Trade button once again Municipal Securities Rulemaking Board 15 Real Time Transaction Reporting System Web Users Manual 9 RECENT TRADING ACTIVITY On the Homepage you will see a chart containing icons for transactions in certain categories Select the icon for the EBS the submitter ID or a combination of the two to view counts in each category Transaction statistics are meant to give you a snap shot of the transactions that you have reported to the MSRB at a given point in time The statistics are broken down into the following categories Transaction Type e All Transactions e Customer Transactions e Inter dealer Transactions e IDRO Transactions Regulatory Status e Submitted Total number of transactions that you submitted within the time period This will not include any transaction reports that were rejected by the MSRB as unapplied e Unsatisfactory Transactions that received unsatisfactory error codes meaning that the transaction did not meet reporting requirements in some manner e Questionable Transactions that received questionable error codes meaning that the transaction needs to be reviewed and edited if necessary e Satisfactory Transactions that did not receive any error codes meaning that the transaction was received by RTRS and met the regulatory requirements e Canceled or Reversed Transactions that were canceled or reversed e Matched Applies to inter dealer t
45. irm submits for Submitter ID Select from a list of submitter IDs registered with the MSRB for your firm Once you have chosen your filter criteria press the filter trades button to view a list of messages that match your criteria The Unapplied Messages page will give you some of the basic information about your transaction message including CUSIP B S Buy or Sell Transaction Type Inter dealer customer or IDRO EBS Effecting broker symbol for the effecting dealer on the transaction Par Value Price If provided by dealer Yield If provided by dealer XREF Dealer control number Trade Date Settlement Date Municipal Securities Rulemaking Board 33 Real Time Transaction Reporting System Web Users Manual e Submission Date To sort the data by any of these criteria click once for ascending order and twice for descending The results of your search criteria are limited to 3000 transactions To view the complete information on a specific message click on any information in the line for that trade For the most current information use the blue refresh activity button at the top of this screen The message will be presented in view only mode Municipal Securities Rulemaking Board 34 Real Time Transaction Reporting System Web Users Manual 17 EXPORTING DATA Data can be exported from RTRS Web in two ways the total list of trades received as a result of a Trade Management Error Code Review and
46. l data in each of the three categories The report can be exported in CSV format for use in Microsoft Excel or a similar program by selecting Export Report Data from the heading of the report This function will export all data in each of three categories 3 REPORT OF CORRESPONDENTS The Report of Correspondents is intended for use by NSCC participant firms and non participant firms that submit for other dealers The report provides a list of effecting broker symbols and firm names that have indicated that they submit transactions through the requested submitter ID The Report of Correspondents is generated on a real time basis This means that all firms that have prior to the time of request indicated to the MSRB that they submit transactions through the requested submitter ID will be included on the report Notice on Comparison of Inter dealer Deliveries That Do Not Represent Inter dealer Transactions Step Out Deliveries Rules G 12 f and G 14 MSRB Notice 2005 22 April 1 2005 http www msrb org Rules and Interpretations Regulatory Notices 2005 2005 22 aspx n 1 Municipal Securities Rulemaking Board 41 Real Time Transaction Reporting System Web Users Manual a MSRB Logged in as Test User for Municipal Securities Rulemaking Board Home New Trades View Trades Reports Quick Search EE Y REPORT OF CORRESPONDENTS This report lists the company name and broker symbol of firms that have indicated to
47. ld will give a short description of the data element required SORTING RESULTS The rows that are displayed on the Trade Management screen can be sorted to make it easier to find data Left clicking on the column heading will cause the data on screen to be reordered by the selected data element Municipal Securities Rulemaking Board 13 Real Time Transaction Reporting System Web Users Manual 7 ENTERING A NEW CUSTOMER TRANSACTION To enter a new customer transaction select New Trades from the menu bar and then New Customer Trade from the drop down or select Enter New Customer Trade from Quick Links B x e sing MSRB Home New Trades NEW CUSTOMER TRADE Select this box to save B information from one trade bmission to the next a sy tra Tua XREF BuySell nmiddiccyy ing Broker Subrritter ID amp EBS v mo eama Once you select either of the above options you will be presented with a blank New Customer Trade screen Ata minimum you must complete all required fields indicated by a red asterisk Note that data requirements may be different for each type of trade See MSRB Rule G 14 for further information about what is required for each type of trade A list of data elements and their data entry validations categorized by transaction type is provided in Appendix A Validation Logic If during your entry you want to clear the form and start over select the Reset Trade
48. like to view and click once to go to the Trade Information screen Last updated 06 08 2005 at 08 36 14 AM Refresh activity Viewing 1 10 of 10 trades matching your search criteria Export Trade Data Show me Inter dealer trades fx in questionable status se submitted within prior business v ana any Submitter D x filter trades CUSIP Bis Trade Type EBS Par Value Price Yield Trade Date Settlement Date Submission Date 2 59259NHY2 S Inter dealer MSRB 40 000 109 702 06 03 2005 06 08 2005 06 07 2005 O 428059AP4 S Inter dealer MSRB 20 000 112 416 RWi24353102481305 06 06 2005 06 09 2005 06 09 2005 2 546475BK9 B Inter dealer MSRB 30 000 104 931 7BMN353134481305 06 06 2005 06 09 2005 06 07 2005 2 645916E52 S Inter dealer MSRB 3 850 000 100 b 0581 353136451305 06 06 2005 06 07 2005 06 07 2005 2 786005FS2 5 Inter dealer MSRB 2 300 000 100 2004353077461305 06 06 2005 06 07 2005 06 07 2005 2 5758956R3 B Inter dealer MSRB 50 000 103 629 0500353151481 305 06 07 2005 06 10 2005 06 07 2005 2 64971SAB5 5 Inter dealer 7 MSRB 1 500 000 0 9 3 03813531 06461305 06 07 2005 06 10 2005 06 07 2005 Q 757564HE2 B Inter dealer MSRB 20 000 100 493 0081353128481305 06 07 2005 06 10 2005 06 07 2005 O 770084EF4 S Inter dealer MSRB 3 400 000 0 1 Fl111353092481305 06 07 2005 06 07 2005 06 07 2005 O 932432NU7 5 Inter dealer MSRB 415 000 0 4399 0557353189481 305 06 07 2005 07 14 2005 06
49. ll be further restricted by RTRS business rules based on the type of transaction inter dealer customer or IDRO and on the type of company with which your user ID is associated clearing firm non participant or service bureau These levels of access are described in Section 5 RTRS Web Access Levels Municipal Securities Rulemaking Board 8 Real Time Transaction Reporting System Web Users Manual 5 RTRS WEB ACCESS LEVELS Levels of access are determined in RTRS Web based on the following e the type of company with which a user ID is associated clearing firm non participant or service bureau e the type of transaction being accessed inter dealer customer or IDRO and the e the user s role on the transaction submitter effecting dealer or intermediate dealer The rules for the various access levels are reviewed below WHAT TYPE OF USER ARE YOU AND WHAT IS YOUR ROLE After identifying what type of company you are associated with and what type of role you play ona transaction report you are able to more fully understand what functions you are capable of performing and what your limits are when using RTRS Web USERS Clearing Firm Participant These are NSCC member firms that are self clearing and or function in the capacity of a clearing firm for non member effecting firms in the settlement process Non Participant Dealers e Correspondent A dealer who has a direct relationship with the clearing firm e Corre
50. mber IDRO Yield All Yield is required on all regular way customer transactions for which it can be calculated Municipal Securities Rulemaking Board 47 Real Time Transaction Reporting System Web Users Manual APPENDIX B COMMON QUESTIONS AND ANSWERS MANAGING USER ACCOUNTS Q would like to add a new user but when log in to the MSRB public web page do not have the option for Form RTRS A You are not the Primary Electronic Mail Contact Contact the MSRB G 40 department at 703 797 6600 Q have submitted a Form RTRS with new RTRS Web users but no one has contacted the new users with their user IDs and passwords A Confirm that you have received your Form RTRS submission confirmation email If you have not received your email you may not have properly submitted Form RTRS See Section3 Managing User Accounts Once Form RTRS has been submitted processing may take up to 2 3 days If you have received your confirmation email and have waited 2 3 days refer to Section20 Getting Help for information about getting assistance USER SIGN ON AND PERMISSIONS Q How do I obtain my password if I have forgotten it A From the log in page select Forgot your password Input your user ID and select Submit Your password will be emailed to the email address registered for you with the MSRB Note that for security reasons you will have to change your password after it has been mailed to you RTRS WEB ACCESS LEVELS Q What types
51. me New Trades View Trades Reports Q MA ret w CUT search WELCOME TO MSRB RTRS RECENT TRADING ACTIVITY you have any questions please contact us at EBS OR Submitter ID 2 EBS 7 rtrswebspt msrb org or call 703 797 6600 Show recent activity by MSRB iv iy pas paanan GANA BHAI ants during business hours or 703 549 9505 after business hours 1 gt All trades Customer trades Inter dealer trades IDRO trades QUICK LINKS Today Prior Week Today Prior Week Today Prior Week Today Prior Week Enter New Custorer trade Enter New IDRO tra ye Submitted Trade Management a Unsatisfactory Error Code Review a Search for a trade Questionable Reports Satisfactory core If corre if corre 1S io co 1S lo cree S core fe cre fe fe core fe Canceled or Reversed Quick Links ao Unmatched i gt io io io IS io lo These numbers do not reflect any migrated trades only trades that have been received through RTRS Copyright 2005 Municipal Securities Rulemaking Board amp 8 4 Local intranet MASTHEAD LINKS These links are accessible through all MSRB screens e About RTRS A brief description of the RTRS Web system including the version number e Contact Us Provides contact information including email address phone number and MSRB physical address e Help Provides access to the RTRS Web User Manual MENU BAR This Menu Bar is available at the top of e
52. mp EBS v uno Qin Once you select either of the above options you will be presented with a blank New IDRO Trade screen At a minimum you must complete all required fields indicated by a red asterisk Note that data requirements may be different for each type of trade See MSRB Rule G 14 for further information about what is required for each type of trade A list of data elements and their data entry validations categorized by transaction type is provided in Appendix A Validation Logic If during your entry you want to clear the form and start over you may press the Reset Trade button To facilitate quick and easy transaction submission when you have more than one trade to enter with similar data select Use this information for my next trade on the top left of the screen prior to selecting Submit Trade Your data will be saved and automatically copied to the next transaction page you will be required to enter a new External Dealer Control Number XREF as this must be unique to each transaction Once you have completed your entry select Submit Trade to submit your transaction RTRS Web will first affirm that you have passed the data entry validation checks and if so will display a confirmation page with your unique message submission number If you have failed one or more of the data entry checks you will be shown the data fields that have failed along with the reason and be asked to correct any errors and to resubmit by select
53. n Sara Mazzuchi for Municipal Securities Rulemakino Pcerd ck Search A aS ET Home New Trades View Trades TRADE SEARCH Fillin any or all of the fields below to find matching trades Blank criteria will be ignored Advanced Search criteria Effecting Broker any EBS v ane Buy Sell Buy x T roo m Special Conditional Trade any o w CUSIP Trade Type Inter dealer Trade Date i Fi ka Regulatory Status Any x Trade Status Submission Date Canceled DKed or Reversed any pa Instruct 020012005 EA io 02 28 2005 E Memo or Pending Any Iv Recent to E Match Status Any x Par Face Amount lt Dollar Price j l lt Final Money iv Yield j lt SettlementDate x Copyright 2005 Municipal Securities Rulemaking Board The Advanced Search in the screenshot above for example will return all inter dealer transactions with submitter ID 0122 that were bought between trade dates 02 01 2005 and 02 28 2005 The criteria for searching transactions are described below Effecting Broker Select from a list of effecting broker symbols registered with the MSRB for your firm or from a list of effecting broker symbols that your firm submits for e Submitter ID Select from a list of submitter IDs registered with the MSRB for your firm e CUSIP Enter the 9 digit CUSIP of the transaction you want to search for A partial CUSIP may be us
54. n placed by RTTM in match status Select the value of unmatched to search for transactions that have been placed by RTTM in unmatched status A transaction is considered in unmatched status until it is placed in matched status Select the any option to disregard this value in your search Municipal Securities Rulemaking Board 24 Real Time Transaction Reporting System Web Users Manual RTRS Web will limit searches to no more than 3000 records returned RTRS Web will display your results 50 transactions at a time Use the Next Page and Previous Page buttons to scroll through your results The criteria you entered for the search will be displayed at the top of the results page along with number of transactions returned If you choose to print your transaction results page the filter criteria and number of transactions returned will be shown Municipal Securities Rulemaking Board 25 Real Time Transaction Reporting System Web Users Manual 13 VIEWING AN EXISTING TRANSACTION AND ITS MESSAGE HISTORY You may select a transaction to view by locating it via the Search features Trade Management or Error Code Review and Response pages To display the transaction click on any of the information in the line for the trade desired to view the Trade Information screen Tjj MSRB r for Municipal Securities Rulemaking Board Home New Trades View Trades Reports LT F TRADE MANAGEMENT D Highlight the transaction that you would
55. nd twice for descending The results of your search criteria are limited to 3000 transactions To view the complete information on a specific transaction click on any information in the line for that transaction to be brought to the Trade Information screen For the most current information use the blue Refresh Activity button at the top of this screen RTRS Web will display your results 50 transactions at a time Use the Next Page and Previous Page buttons to scroll through your results The criteria you entered for the search will be displayed at the top of the results page along with number of transactions returned If you choose to print your transaction results page the filter criteria and number of transactions returned will be shown Municipal Securities Rulemaking Board 22 Real Time Transaction Reporting System Web Users Manual 12 SEARCHING FOR A TRANSACTION There are two ways to search for a particular trade in RTRS Web You can use the Quick Search option located at the top of every RTRS Web screen Or you can use the Advanced Search option described below Access the Advanced Search page via Search for a Trade from Quick Links or select Advanced Search from the top right corner of the Menu Bar Although you may enter or leave blank any of the other criteria described below one of the following is required for advanced searches CUSIP trade date instruct submission sate or recent submission date T MSRB ogged i
56. o be brought to the Trade Information screen for that particular transaction If you have modify privileges the transaction will be presented in edit mode with the modify trade button available to you Otherwise the transaction will be presented in view only mode and none of the data will be accessible If you do not have modify privileges you will not be able to modify the transaction Refer to Section 4 User Sign on and Permissions for further information about privileges available in RTRS Web Ni MSRB Home New Trades View Trades Reports INTER DEALER TRADE ID TBMN353134481305 MSRB Export Trade Data Backto Trade Management Export Trade Data amp iia anid AA asfi ji trade report questionable HEREC i Regulatory Notices Highlight and edit information to modify QO N913 LATE Trade reported after deadline Regulatory Reporting Information Time of Trade FENG Effecting Broker MSRB iy hh mm ss Intermediate Broker Participant Capacity Principal iv Conira s Enecting Brok u ontra s Effecting Broker AAZZ Contra Capacity x o Contra s Intermediate Broker Weighted Average Price No v lt i Reversal Control Number Special Condition No extension x 1295010633 No special price Service Bureau ID Message Sender ID 0122 v Regulatory Control Number 53531344 Comparison Information XREF Par Face Value Information in light gray can not be modified Previous XR
57. option Form RTRS Complete the Contacts section of the form adding editing or removing RTRS Web user accounts as necessary You may also add or remove privileges for each user Be sure to correctly submit each user s current email address as this is how they will be contacted with their user ID and password Complete sections A B C D and E of Form RTRS Be sure to include your name and your personal CRD number not your firm s CRD number in the Signature section and to select submit at the end of the form Note that if you do not successfully submit the entire form your changes will not go through After the MSRB receives and processes the Form RTRS each new user will receive an email containing their RTRS Web user ID and instructions for how to receive their password For security reasons user IDs and passwords are emailed separately Note that if you are accessing RTRS Web for two separate firms you will need a user ID and password for each firm Municipal Securities Rulemaking Board 6 Real Time Transaction Reporting System Web Users Manual 4 USER SIGN ON AND PERMISSIONS USER SIGN ON 1 Access the MSRB public web page at http www msrb org 2 Select Login at the top left or the right side Figure 4 1 3 Enter your RTRS Web user ID and password If you do not have a user ID and password please refer to Section 3 Managing User Accounts for instructions on how to obtain a user ID and password 4
58. or code category OR submitted within for and MSRB 4 any Submitter ID 08 Notification Late prior business day m filter trades C O 59259NHY2 5 Inter dealer MSRB 40 000 109 702 0011353091481305 06 03 2005 06 08 2005 06 07 2005 2 428059AP4 5 Inter dealer MSRB 20 000 112 416 RVW24353102481305 06 06 2005 06 09 2005 06 09 2005 546475BK9 B Inter dealer MSRB 30 000 104 931 7BMN353134481305 06 06 2005 06 09 2005 06 07 2005 2 645916E52 5 Inter dealer MSRB 3 850 000 100 0581353136451305 06 06 2005 06 07 2005 06 07 2005 O 786005F52 5 Inter dealer MSRB 2 300 000 100 5 2004353077461305 06 06 2005 06 07 2005 06 07 2005 2 764080054 S Customer MSRB 15 000 106 8 3 018 2099353097481 305 06 07 2005 06 10 2005 06 07 2005 2 937071LR7 8 Customer MSRB 15 000 101 036 3 2 0504353093481 305 06 07 2005 06 15 2005 06 07 2005 Viewing 1 7 of 7 trades matching your search criteria Export Trade and Error Data lt The filters that have been pre defined for reviewing and responding to your transactions are as follows Transaction types Display only inter dealer transactions only customer transactions only IDRO transactions or all transaction types Effecting Broker Symbol EBS Select from a list of effecting broker symbols registered with the MSRB for your firm or from a list of effecting broker symbols that your firm submits for Submitter ID Select from a list of submitter IDs registe
59. orting Rule G 14 MSRB Notice 2005 02 January 10 2005 http www msrb org Rules and Interpretations Regulatory Notices 2005 2005 02 aspx n 1 Municipal Securities Rulemaking Board 4 Real Time Transaction Reporting System Web Users Manual 2 NORMAL SYSTEM HOURS RTRS Web is available for viewing historical trade information and utilizing the various search tools and reports available for monitoring transaction reporting compliance twenty four 24 hours per day seven 7 days per week RTRS Web is available for submitting new trade reports and modifying and cancelling existing trade reports from 6 00A M until 9 00P M ET on RTRS Business Days Note MSRB Rule G 14 requires dealers to report transactions executed between the hours of 7 30A M and 6 30P M ET on RTRS Business Days within 15 minutes of execution time barring exceptions as detailed in MSRB Rule G 14 Municipal Securities Rulemaking Board 5 Real Time Transaction Reporting System Web Users Manual 3 COMPLETE FORM RTRS Your firm is required by MSRB Rule G 40 to have a Primary Electronic Mail Contact The Primary G 40 Contact must complete the following steps to add edit or remove RTRS Web user accounts Go to www msrb org click the Login link and enter your Primary G 40 Contact user ID and password If you do not have your user ID and password please contact MSRB Support at 202 838 1330 From the Controlled Access Area Selection page select the
60. orting S ystem RTRS Users Guide aspx Municipal Securities Rulemaking Board 50 Real Time Transaction Reporting System Web Users Manual REPORTS Q have generated a Discrepancy Error Code Report and noticed that have correctly submitted trade information on many of the transactions on which received questionable error codes If have submitted information correctly why did I get an error code and what do I need to do about it A If the MSRB receives contradictory data from two matched sides your report and your contra party s report there is no way the MSRB can know whose information is correct For this reason both sides of the transaction will receive a questionable error code For example if your firm reports that you executed a transaction at 12 30 00 ET and the contra side reports that that transaction was executed at 13 30 00 ET the MSRB does not know who is correct and both sides will receive the error code 22F Seller and Buyer Times of Trade Differ by More Than 15 Minutes When a questionable error such as this is received your firm is responsible for confirming that your trade submission was correct If the information is indeed correct you do not need to change it If your information is incorrect however you must submit a modify record to correct the information Refer to the Specifications for Real time Reporting of Municipal Securities Transactions for a list of error codes and information on what do
61. otice on Comparison of Inter dealer Deliveries That Do Not Represent Inter dealer Transactions Step Out Deliveries Rules G 12 f and G 14 MSRB Notice 2005 22 April 1 2005 http www msrb org Rules and Interpretations Regulatory Notices 2005 2005 22 aspx n 1 1 Specifications for Real time Reporting of Municipal Securities Transactions document is available at http www msrb org Market Disclosures and Data MSRB S ystems and Support Real Time Transaction Reporting S ystem RTRS Users Guide aspx Municipal Securities Rulemaking Board 32 Real Time Transaction Reporting System Web Users Manual MSRB Home New Trades View Trades Reports UNAPPLIED MESSAGES amp Last updated 06 08 2005 at 08 41 48 AM Refresh activity Messages included in this section of RTRS Web are those that were rejected by RTRS and therefore not applied to any current trade report Depending on the type of record these messages may need to be resubmitted to RTRS Please review the error codes received by each message to determine whether further action is necessary Viewing 1 17 of 17 trades matching your search criteria Show me all trade types Mm submitted prior business day v for MSRB v and any Submitter ID i filter messages BIS Trade Type EBS i Submission Date 010610AD5 B Inter dealer MSRB 10 000 0 3 38 0500353608481305 06 07 2005 06 10 2005 06 07 2005 145750GU3 B Inter dealer MSRB 35 000 0 05643534
62. porting data with regards to status match rate lateness and timeliness of reporting and number of changes to reported data Unlike the RTRS Dealer Data Quality Summary Report the Summary of Correspondent s Trades Report displays statistics about inter dealer trades effected by a correspondent dealer regardless of which dealer cleared the trades and also about customer trades effected by the correspondent The Summary Report can be viewed in a one month version To obtain the one month report select the month desired from the drop down and select run report When downloading the file do not change the name of the file prior to saving The report can be seen on the RTRS Web screen and can be exported to a CSV file The report can also be printed as displayed on screen or from the export file The CSV file will provide data in the format made available to FINRA examiners Note that although the actual data provided in the on screen and CSV file formats is the same the CSV format displays the data slightly differently from the format displayed on the RTRS Web screen 3 RTRS DEALER DATA QUALITY DETAIL REPORT The RTRS Dealer Data Quality Detail Report formerly known as the Evidentiary Report identifies specific trades that are counted in each category of the Dealer Data Quality Summary report The report provides a list of trades that are included in each of the categories in the Summary report The report also provides details
63. ransactions only shows transactions that you reported to the MSRB that were matched to the contra side by RTTM e Unmatched Applies to inter dealer transactions only shows transactions that you reported to the MSRB that have not been matched to the contra side by RTTM Transactions submitted today reflect any transaction where the instruct for that transaction was received by RTRS within the current day Transactions submitted in the prior week reflects any transaction where the instruct message was received by RTRS in the 7 days prior to the current day non inclusive Transactions that were rejected by the MSRB will not be included in the statistics Refer to the Specifications for Real time Reporting of Municipal Securities Transactions for a list of reasons why the MSRB would reject a transaction message 3 Specifications for Real time Reporting of Municipal Securities Transactions document is available at http www msrb org Market Disclosures and Data MSRB S ystems and Support Real Time Transaction Reporting S ystem RTRS Users Guide aspx L se ee eee Municipal Securities Rulemaking Board 16 Real Time Transaction Reporting System Web Users Manual For specific trades and counts regarding your recent trading activity click on any of the magnifying glass icons in the Recent Trading Activity chart to go to the Trade Management screen where the transactions corresponding to the number will be presented for review Municip
64. red with the MSRB for your firm Error Code Input an error code to display all transactions that have received the inputted error code Error Code Category Select an error code category to display all transactions that have received an error from the selected category This includes a category that includes all questionable error codes and a category that includes all unsatisfactory error codes Submission Date Range Input a specific date or date range to display all transactions submitted within the inputted date range Municipal Securities Rulemaking Board 20 Real Time Transaction Reporting System Web Users Manual Submission Date Time Frames Includes pre defined time frames to filter your transactions If you would like to filter your transactions by a specific error code instead or by a category of error codes and if you do not know the desired error code for your search select Look Up next to the error code field in the filter bar The Error Code Categories Pop up will appear You can filter error codes by category or by keyword When you have located the desired error code click on the error code line itself to pre populate the error code field in the Error Code Review and Response screen filter ES JError Code Lookup MSRB RTRS Microsoft Internet Explorer Ti MSF J MSRB Home New Tij ERROR COD ERROR CODE CATEGORIES Last updated 06 0 To select the error code that you would like to view in Error
65. ry data on inter dealer transactions via RTRS Web e Both the original submitter of the transaction and a service bureau if acting on behalf of a submitting dealer and the effecting dealers of the transaction can access the inter dealer transaction e In no case will the effecting dealer have access to the side in which they are named as the contra party The exception to this is information contained in the Discrepancy Error Code Report See Section19 Reports for further information on this and other reports available Customer Transactions e Both clearing firms with NSCC participant IDs and non participant dealers with valid MSRB assigned submitter IDs may be granted privileges to submit customer transactions via RTRS Web 4 Reports of Sales or Purchases http www msrb org Rules and Interpretations MSRB Rules General Rule G 14 aspx Municipal Securities Rulemaking Board 10 Real Time Transaction Reporting System Web Users Manual e Both clearing firms and non participant dealers may be assigned to modify and to cancel privileges for customer transactions via RTRS Web e All user types may be assigned view privileges to customer transactions via RTRS Web IDRO Transactions e Only firms that have a valid MSRB assigned submitter ID or NSCC participant ID and that submit for another dealer may be assigned privileges to submit IDRO transactions via RTRS Web e Only firms that have a valid MSRB assigned submitter ID
66. s where there was a destination code discrepancy RTTM Only DEST01 vs RTTM and RTRS DEST01 02 between Municipal Securities Rulemaking Board 40 Real Time Transaction Reporting System Web Users Manual your firm and the contra party firm For further information on destination code mismatches refer to MSRB Notice 2005 229 The Destination Code Report is generated on a real time basis meaning that you can generate a report to show all trades matched on the current date up to the time the report is generated To generate this report select an EBS or a submitter ID and a match date from the filter bar at the top Select run report Note that the results are generated by the data available at the time and date of match If you have modified or reversed a transaction after the time and date of match this updated information will not be shown in the report The Destination Code Report displays transactions in three categories Category A includes transactions where both your firm and the contra party firm indicated RTTM Only DEST01 Category B includes transactions where your firm indicated RTTM Only DEST01 and the contra party indicated RTTM and RTRS DEST01 02 Category C includes transactions where your firm indicated RTTM and RTRS DEST01 02 and the contra party indicated RTTM Only DEST01 The Destination Code Report can be printed by selecting the small print icon at the top right of the screen This function will print al
67. spondent of a Correspondent A dealer who effects the transaction and is someone other than the clearing firm or the clearing firm s direct correspondent e Quasi participants Non participants granted the authority by the MSRB to submit via IM using the FICC Access Network for submission of customer transaction reports Service Bureau Service bureaus may perform the service of submitting to the MSRB transaction reports on behalf of the effecting dealer The one exception is that service bureaus have view only access via RTRS Web to view transactions they have submitted on a dealer s behalf when signing in as themselves ROLES For any transaction report the submitter of the transaction report may be different than the actual dealer who effected the transaction All dealers have an ongoing obligation to report this information promptly accurately and completely The dealer may employ an agent for the purpose of submitting transaction information however the primary responsibility for the timely and accurate submission remains with the dealer that effected the transaction A dealer that acts as a submitter for another dealer has specific responsibility to ensure that transaction reporting requirements are met with Municipal Securities Rulemaking Board 9 Real Time Transaction Reporting System Web Users Manual respect to those aspects of the reporting process that are under the submitter s control A dealer that submits int
68. the MSRB that they have a clearing relationship with the requested submitter ID Selecta Submitter ID 9989 v The following firms have indicated that they have a current clearing relationship with Submitter ID 9999 Created 06 08 2005 EBS Company Name MSRB Municipal Securities Rulemaking Board TEST Municipal Securities Rulemaking Board Copyright 2005 Munici ies Rulemaking Board Site designed by To generate this report select a submitter ID from the filter bar at the top Select run report The Report of Correspondents can be printed by selecting the small print icon at the top right of the screen RTRS DATA QUALITY REPORTS RTRS Data Quality Reports will become available on or about the first business day after the 15 of each month covering transactions reported during the preceding month including changes made to those trades for the 15 days following the last day of the month Each monthly report contains data for the firm for the requested period data for the firm for the prior period and data for the industry for the requested period For instructions on how to use the reports see the Users Guides to Dealer Data Quality Reports 1 RTRS DEALER DATA QUALITY SUMMARY REPORT The RTRS Dealer Data Quality Summary Report formerly known as the Compliance Data Report describes a firm s transaction reporting data with regards to status match rate lateness and timeliness of reporting and number of ch
69. ties Rulemaking Board 39 Real Time Transaction Reporting System Web Users Manual The Discrepancy Error Code Report is generated on a real time basis meaning that you can generate a report to show all trades matched on the current date that received a Q19F Q22F or Q44F error code up to the time the report is generated To generate this report select an EBS or a submitter ID and a match date from the filter bar at the top Select run report Note that the results are generated by the data available at the time and date of match If you have modified or reversed a transaction after the time and date of match this updated information will not be shown in the report The Discrepancy Error Code Report contains three sections one for each of the error codes included Use the links at the top of the page and after each section title to navigate up and down to the desired section of the report Because different fields are relevant for each section the headings vary between the three sections The three sections are as follows Q19F Accrued Interest Different on Buyer and Seller Sides This section lists inter dealer trades where the accrued interest submitted by your firm differs from the accrued interest submitted by the contra party Data shown in column A Your Accrued Interest should match data shown in column B Contra Accrued Interest Q22F Seller and Buyer Times of Trade Differ by More Than 15 Minutes This section lists inter dealer
70. tivity button at the top of this screen RTRS Web will display your results 50 transactions at a time Use the Next Page and Previous Page buttons to scroll through your results The criteria you entered for the search will be displayed at the top of the results page along with number of transactions returned If you choose to print your transaction results page the filter criteria and number of transactions returned will be shown Municipal Securities Rulemaking Board 19 Real Time Transaction Reporting System Web Users Manual 11 ERROR CODE REVIEW AND RESPONSE The Error Code Review and Response screen functions similar to the Trade Management screen except that you can filter your trading activity and compliance results by error code Filters are located at the top of the screen to facilitate easy selection and viewing of your transactions To reach the Error Code Review and Response screen select View Trades from the menu bar and then Error Code Review and Response from the drop down or select Error Code Review and Response from Quick Links W MSRB Home New Trades View Trades Reports ERROR CODE REVIEW AND RESPONSE Link to Error Code Last updated 06 08 2005 at 08 33 03 AM Refresh activity Search Pop up Filter Bar Viewing 1 7 of 7 trades matching your search criteria Export Trade and Error Data Show me with error code submitted within this date range all trade types O lookup o from OR err
71. very MSRB page You can access drop downs by holding the mouse over each item e Home Takes you to the Homepage e New Trades Municipal Securities Rulemaking Board 12 Real Time Transaction Reporting System Web Users Manual New Customer Trade Report a new customer transaction New IDRO Trade Report a new IDRO transaction e View Trades Trade Management View your recent transaction activity along with regulatory status and error code information Error Code Review and Response View your recent transaction activity by error code or error code category along with status and error code information Unapplied Messages View messages that were rejected by RTRS e Reports View various reports for transactions reported by and for your firm e Log Off Log off of RTRS Web when you are done using the interface e Quick Search Input desired information to locate transaction information quickly e Advanced Search Execute a detailed search of your reported transactions STATUS SYMBOLS The following status symbols identify the status regulatory or otherwise of the transaction You will notice these throughout the RTRS Web interface e Satisfactory e Unsatisfactory e Questionable e Canceled e Reversed 0 6 BOW e Trade Reversal e Message Status Pending e Message Unapplied N e Message Not Submitted Y TOOL TIPS For any field that requires input navigating the mouse over the fie
72. will be displayed Each notice displays the status i e satisfactory questionable or unsatisfactory the regulatory code and a text description of the notice Refer to Section 6 Basic RTRS Web Navigation for a list of all status icons and their meanings To see a history of all of the messages for the transaction leading up to the current view of the transaction click on the Message History tab You will be directed to a list of messages that are associated with the transaction sorted by the time the message was received in descending order such that the most recent message at the top of the list corresponds with the most current information viewable in the Trade Information screen The information displayed as part of the message history is provided below e Transaction Status Municipal Securities Rulemaking Board 27 Real Time Transaction Reporting System Web Users Manual e Received Date and Time e Record Type e CUSIP e B S Buy or Sell e EBS Effecting broker symbol for the effecting dealer on the transaction e Par Value e Price If provided by dealer e Yield If provided by dealer e XREF Dealer control number e Trade Date e Settlement Date e User ID Included if message was transacted via the RTRS Web or RTTM Web e Message Sender ID e Message Medium RTRS Web RTTM Web Interactive Messaging RTTM Event Message e Sender Message Number SEME from the message e Lateness Indicator indicates whether or not

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