Home

RTRS Web User Manual

1. Municipal Securities Rulemaking Board 16 MSRB Real Time Transaction Reporting System Manual Part 3 Enter a New Customer Transaction To enter a new customer transaction select New Customer Trade from the New Trades drop down menu or select the link Enter New Customer Trade from the Quick Links section and the New Customer Trade screen appears View Trades l D A E New Customer Trade E WELCOME TO MSRB RTRS If you have any questions please contact us at RIRSWebSpt msrb org or call 703 797 6600 during business hours or 7 03 797 6666 after business hours QUICK LINKS Enter New Customer trade C Trade Management Error Code Review and Response View unapplied messages Search for a trade Reports At a minimum complete all of the required fields indicated by a red asterisk Data requirements may be different for each type of trade See MSRB Rule G 14 for requirements for requirements on submitting a customer trade A list of data elements and their data entry validations categorized by transaction type customer IDRO or inter dealer are provided in the Appendix NEW CUSTOMER TRADE Trade information V Use this information for my next trade a o reset trade submit trade XREF 11111 BuyiSell Sell v CUSIP 999999AB1 Capacity Principal v eee aaa Par Face Amount 1000 mm ddiccyy Dollar Price 400 Time of Trade Military ET 01 00 00 hh mm ss Yield 28 Settlement
2. 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 15t 2005 http www msrb org Rules and Interpretations Requlatory Notices 2005 2005 22 aspx n 1 Municipal Securities Rulemaking Board 43 MSRB Real Time Transaction Reporting System Manual 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 UNAPPLIED MESSAGES Last updated 09 21 2012 at 09 22 53 PM 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 50 of 115 trades matching your search criteria Export Unapplied Messages Show me all trade types v submitted today v for ABCD v and any SubmitterID v cusp BS Trade Type EBS Par Value Price Yield XREF Trade Date Settiement Date Submission Date 999999AB1 999999AB1 S Inter dealer ABCD 25 000 111111 09 19 2012 09 24 2012 09 21 2012 B Inter dealer ABCD 150 000 222222 09 19 2012 09 27 2012 09 21 2012 999999AB1 S Inter dealer ABCD 20 000 333333 09 19 2012 09 24 2012 09 21 2012 999999AB 1 B In
3. Special Conditional Trade Extended Settlement Reversal Indicator Market of Execution Sender Reference Number Lateness Indicator instruct Received Date Time Effecting Broker ABCD Contra s Effecting Broker EFGH Field required o reset trade modify trade The Comparison Information section provides some of the basic information about your transaction including XREF Previous XREF Clearing ID rade Reporting Indicator QSR Target QSR Issue Type Buy Sell Contra Trade Date Settlement Date CUSIP RTTM ID RTTM Match ID Memo Pending DK Status Par Face Value Dollar Price Accrued Interest Final Money Yield Concession special Conditional Trade Extended Settlement Reversal Indicator Market of Execution Sender Reference Number Lateness Indicator Instruct Receive Date Time Effecting Broker Contra s Effecting Broker Refer to the Specifications for Real Time Reporting of Municipal Securities Transactions on MSRB org for additional information regarding the inter dealer fields listed above Municipal Securities Rulemaking Board 32 MSRB Real Time Transaction Reporting System Manual Part 10 View Message History 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 are directed to a list of messages that are associated with the transaction sorted by the time the m
4. RERS WIC1C Since cece nc ece neces eccsececeacsoceseoeseduseaecusacesnsqcsaecusedeeesncecaseucancesesusatneessss 56 Municipal Securities Rulemaking Board 4 MSRB Real Time Transaction Reporting System Manual Introduction The Municipal Securities Rulemaking Board MSRB protects investors issuers of municipal securities entities whose credit stands behind municipal securities and public pension plans by promoting a fair and efficient municipal market The MSRB fulfills this mission by regulating securities firms banks and municipal advisors that engage in municipal securities and advisory activities To further protect market participants the MSRB promotes disclosure and market transparency through its Electronic Municipal Market Access EMMA website provides education and conducts extensive outreach The MSRB has operated under Congressional mandate with oversight by the securities and Exchange Commission since 1975 The EMMA website is a centralized online database operated by the MSRB that provides free public access to official disclosure documents and trade data associated with municipal bonds issued in the United States In addition to current credit rating information the EMMA website also makes available real time trade prices and primary market and continuing disclosure documents for over one million outstanding municipal bonds as well as current interest rate information liquidity documents and other information for most
5. transaction RTRS Web first affirms that you have passed the data entry validation checks and if so displays a confirmation page with your unique message submission number NEW IDRO TRADE Trade information Use this information for my next trade a g reset trade submit trade D XREF 1111111 Buy Sell Sell v CUSIP Q90099AR1 Capacity Principal v Trade Date 09 21 2012 Contra Capacity Agent Par Face Amount 1000 Time of Trade Military ET 01 00 00 D hme ollar Price 100 Settlement Date 09 24 2012 Unknown Yieki 2 8 Commission Submitter Effecting Broker m AREL Weighted Average Price No Contra Effecting Broker EFGH Special Condition No condition below applies Not special price Field required g submit trade D_E a Municipal Securities Rulemaking Board 20 MSRB Real Time Transaction Reporting System Manual Part 5 Recent Trade Activity On the RTRS Web homepage the Recent Trade Activity chart allows you to search by the EBS the Submitter ID or a combination of the two to view a list of recent trade activity reported to the MSRB at a given point in time Select your search criteria and click the magnifying glass icon to search for transactions by transaction type and regulatory status A list of specific trades and counts regarding your recent trade activity for the corresponding search appears RECENT TRADING ACTIVITY Show recent activity by EBS OR Submitter ID amp EBS Last
6. 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 3 MSRB Real Time Transaction Reporting System Manual Table of Contents BIEVER CUIC OID occ wegen tc E nace E A 5 Pan ACCESS OE Ui WV CO ais A A 7 FONG SIOMS renn E E E E 8 Part 2 RTRS Web Interface Navigation ccccssccssseeceseeeeseeceneeeeseeeeneeeeneseeseseeneees 13 Part 3 Enter a New Customer TranSaction cccsccccssseeceeseeceneesesseesenseeseneeseeneeees 17 Part 4 Enter a New IDRO Transaction cccccceseeseseeeeneeeeseeeeseeeeseeeeneeeeneseeseseeneees 19 Pale S Recent Trade ACUVIIY ces scansenteseeccatienateateuesscceceeesensean A aaa 21 Panl 6 Made NAN AGEINONIL scceccecctacecccectacsusacecestsececessesusesecasasescsectaesusedecesusecndesuaasuseawes 22 Part 7 Error Code Review and R SPOnse scccccesseeeeseeeeeseeeeeneeeesneeeeaeeeensennensenes 24 Part 8 Search for a Transaction sassnnnunnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn nnmnnn nnna 27 Part 9 View an Existing Transaction sssssnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn nnn 29 Part 10 View Message History asnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn nnn 33 Part 11 Modifying an Existing TranSaction ccccccssseseseeeeeeeseeeseeeeeeeneeeeseeeaeeeeeees 40 Part 12 Can
7. Trade and Error Data Trade Date 9 21 2012 9 21 2012 9 21 2012 9 21 2012 9 21 2012 9 21 2012 9 21 2012 9 21 2012 9 21 2012 9 21 2012 9 21 2012 Xref CUSIP XREF 1111 999999AB1 XREF 6666 999999AB1 XREF 4444 999999AB1 XREF 5555 999999AB1 XREF 1111 999999AB1 XREF 2222 999999AB1 XREF 7777 999999AB1 XREF 8888 999999AB1 10 XREF 9999 999999AB1 11 XREF 1010 999999AB1 12 XREF 1212 999999AB1 Time of Tr Settlement C Effecting E Interme Buy Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell 1 00 00 9 24 2012 ABCD Sell oe P a m e 09 21 2012 09 24 2012 09 21 2012 09 21 2012 09 24 201 09 21 2012 09 21 2012 09 24 201 09 21 2012 09 21 2012 09 24 201 09 21 2012 09 21 2012 09 24 201 09 21 2012 Error Code N913 N913 N913 N913 N913 N913 N913 N913 N913 N913 N913 Capacity Par Face Dollar Pric Yield 1000 101 10000 100 5000 100 5000 100 1000 101 2000 102 1000 101 1000 101 10000 101 1000 101 5000 101 Principal Principal Principal Principal Principal Principal Principal Principal Principal Principal Principal Municipal Securities Rulemaking Board 46 MSRB Real Time Transaction Reporting System Manual Part 15 Print Data You may print data in T
8. at 11 57 23 AM ABCD Dealer XYZ Municipal Securities Rulemaking Board 53 MSRB Real Time Transaction Reporting System Manual Suggested Searches Suggested Searches provide quick and easy access to the Trade Management Error Code Review and Response or Unapplied Message screens on recent trade activity SUGGESTED SEARCHES This function provides quick and easy access to the Trade Management Error Code Review and Response or Unapplied Message screens for suggested searches available to the RTRS Web user Select an EBS SAME Y and or Submitter ID any Submitter ID v Show me alltrades submitted today that were submitted late all trades submitted today that received unsatisfactory error codes all trades submitted today that were rejected by RTRS itr 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 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 All Trad
9. not have cancellation privileges you are not able to cancel the transaction but you can view the transaction CUSTOMER TRADE ID 22222222 ABCD Last updated 09 21 2012 at 07 09 59 PM Back to Trade Management Trade information previous trade mpm vate woe cancel trade Regulatory Notices O N913 LATE Trade reported after deadline Export Trade Data O Q22E QUEST Time of trade before 0600 or after 2100 O Q31D QUEST CUSIP appears to be invalid CUSIP Capacity Principal v Trade Date Par Face Amount 2000 i Dollar Price 10200 Time of Trade Military ET 01 00 00 Yield 45 Only customer and IDRO transactions may be cancelled via RI RS Web Inter dealer transactions may only be cancelled via FICC Once you have determined the transaction you would like to cancel click the cancel trade button to submit your request RTRS Web requires that you affirm that you want to cancel the transaction Click the Continue bution to cancel your transaction RTRS Web will then display a confirmation page with your unique message submission number A transaction is only cancelled if the confirmation screen appears If you click Not to Continue you are directed to the Transaction Information screen Municipal Securities Rulemaking Board 42 MSRB Real Time Transaction Reporting System Manual Part 13 Unapplied Messages The Unapplied Messages screen allows you to view your unapplied message activit
10. submitted within the time period This does not include any transaction reports that were rejected by the MSRB as unapplied Select from a list of Submitter IDs registered with SOMOD Al the MSRB for your firm For all transactions the time is entered in military eastern time and must be a valid time using the format hh mm ss The time of transaction may not be modified to be greater than the time of Time of Trade All transaction submitted on the original instruct message For example if the Trade Date and Time is submitted originally as 01 01 2004 at 00 13 00 the time may be modified to be earlier than 00 13 00 on that day but not later E This field must be a valid date must not be in the Trade Date future and must be within a 90 day period from the and IDRO current day 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 Display only inter dealer transactions only customer transactions only IDRO transactions or all transaction types Transaction Type Transactions Reflects any transaction where the instruct Submitted in message for that transaction was received by the Prior RTRS in the 7 days prior to the current day non Week inclusive Transactions Submitted in the Prior Week Transactions Transactions Reflects any transaction where the instruct Submitted Today Submitted message for that trans
11. to as the face amount of a security Par Value Face All Value Enter the par value as less than greater than or equal to the value on the transaction you want to select Par must reflect face amount not units for all transactions The amount to be paid for a bond usually expressed as a percentage of par value Price Regulatory status of transactions that received uestionable error codes meaning that the Questionable Inter dealer q g er transaction needs to be reviewed and edited If necessary Mandatory for trades submitted with final money as well as for trades effected on the basis of dollar l price when settlement date is not known and hr Price Inter dealer Submitted without final money iad Omit when issued trades effected on the basis of yield when settlement date is not known and submitted without final money Select satisfactory unsatisfactory or uestionable to search on those specific Regulatory Status All q P regulatory states or select the any option to disregard this value in your search Regulatory status of transactions that did not receive any error codes meaning that the transaction was received by RTRS and met the Satisfactory Municipal Securities Rulemaking Board 59 MSRB Real Time Transaction Reporting System Manual Field Name Transaction Validation Logic Type Sender Message SEME from the message Number Enter the settlement date as less than greater than
12. updated 09 28 2012 at 04 11 21 PM Refresh activity All trades Customer trades Inter dealer trades IDRO trades Prior Week Today Prior Week Today Prior Week Today Prior Week Submitted Unsatisfactory Questionable Satisfactory Canceled or Reversed Matched Unmatched Transactions are divided into two categories transaction type and regulatory status Transaction Type Regulatory Status All Trades Submitted Customer Trades Unsatisfactory Inter dealer Trades Questionable IDRO Trades Canceled or Reversed Transactions Submitted Today Matched Transactions Submitted in the Unmatched Prior Week Refer to the Appendix for additional information about the fields and the validation logic Municipal Securities Rulemaking Board 21 MSRB Real Time Transaction Reporting System Manual Part 6 Trade Management The Trade Management screen allows you to view your trading activity and compliance results To reach the Trade Management screen either select View Trades from the menu bar and then Trade Management from the drop down or select Trade Management from the Quick Links section Home New Trades i Trade Management WELCOME TO MSRBE Emor Code Review and Response lf you have any questions pleas View Unapplied Messages or call 703 797 6600 during business hours or U3 r9 business hours QUICK LINKS Enter New Customer trade Enter New IDRO trade Trade Management Error Code Review and R
13. variable rate municipal securities 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 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 RT TM environment see MSRB Rule G 12 f for further details Reporting inter dealer transactions through RT TM satisfies the MSRB Rule 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 1 Uniform Practice MSRB Rule G 12 f http Awww msrb org msrb1 rules ruleg12 htm Municipal Securities Rulemaking Board 5 MSRB Real Time Transaction Reporting System Manual 14 RTRS Procedures for further details Inter dealer c
14. will return all CUSIPs beginning with the characters 123456 Customer Trades Customer Indicates trades between dealers and customers Dollar price is required on all regular way customer and IDRO transaction for which it can be calculated Either dollar price or yield is required for customer and IDRO transactions Dollar Price All Enter the dollar price as less than greater than or equal to the value on the transaction you want to select For inter dealer transactions enter the price at which the trade is effected Effecting broker symbol for the Effecting dealer on the transaction Customer CES and IDRO Effecting Broker All 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 Input an error code to display all transactions that Error Code i have received the inputted error code Error Code Select an error code category to display all Category transactions that have received an error from the Symbol EBS Municipal Securities Rulemaking Board 57 MSRB Real Time Transaction Reporting System Manual Field Name Transaction Validation Logic Type Enter the final money as less than greater than or Final Money Inter dealer jequal to the value on the transaction you want to select Inter dealer Indicates a trade when an introducing broker Regulator only effects a trade for a customer against
15. 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 Note that results are based on trade information at time of match If you have modified or canceled trade information post match updated trade information will not be reflected on this report Export Report Data Last updated 10 24 2012 at 12 54 28 PM Categories A Destination Code RTTM Only DEST01 on Matched Sides You indicated RTTM only Contra Indicated RTTM only B Destination Code Different DESTO1 vs DEST01 02 on Matched Sides You indicated RTTM only Contra Indicated RTTM amp RTRS C Destination Code Different DEST01 02 vs DEST01 on Matched Sides You indicated RTTM amp RTRS Contra indicated RTTM only No data found 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 does not appear in the report 3 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 15t 2005 http www msrb org Rules and Interpretations Requlatory Notices 2005 2005 22 aspx n 1 Municipal Securities Rulemaking Board 52 MSRB Real Time Transaction Reporting System Manual The Destina
16. 01 PM Refresh activity Viewing 1 6 of 6 trades matching your search criteriag Export Trade Data Showme alltradetypes jn any status v submitted within today 999909AB1 Customer 09 21 2012 092412012 0921 2012 999999AB 1 Customer 666 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer 9 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer 59999 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer 09 21 2012 09 24 2012 09 21 2012 999999AB1 Customer i 09 21 2012 09 24 2012 09 21 2012 Viewing 1 6 of 6 trades matching your search criteria f Export Trade Data g When you export a list of trades from the Trade Management screen you receive a file with one line for each transaction in the list The export does not include error code information A B G D E F G H J M N O Xref CUSIP Trade Date Time of Tr Settlement Effecting E Interme Buy Sell Capacity Par Face Dollar Pric Yield MSRB D Commissic Weightg XREF 1111 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 1000 101 XREF 6666 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 10000 100 2 8 XREF 4444 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 5000 100 4 2 XREF 5555 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 5000 100 2 8 XREF 1111 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 1000 101 4 5 XREF 2222 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 2000 102 4 5 XREF 7777 999999AB1 9 21 2012 1 00 00 9 24 2
17. 012 ABCD Sell Principal 1000 101 4 XREF 8888 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 1000 101 3 XREF 9999 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 10000 101 3 5 XREF 1010 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 1000 101 15 XREF 1212 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 5000 101 is XREF 1313 999999AB1 9 21 2012 1 00 00 9 24 2012 ABCD Sell Principal 1000 WON DWP WIN e Exports are in CSV format can be opened in Microsoft Excel or any similar program Municipal Securities Rulemaking Board 45 MSRB Real Time Transaction Reporting System Manual When you export a list of trades from the Error Code Review and Response screen you receive a file with a line item for each error code per transaction in the list In the example below the error code is N913 Late trade reported after deadline was chosen Five transactions were exported that received the N913 error code ERROR CODE REVIEW AND RESPONSE Last updated 09 21 2012 at 06 36 14 PM Refresh activity Viewing 1 5 of 5 trades matching your search criteria Export Trade and Error Data Show me all trade types v with error code N913 look up for and anyEBS v 1234 OR error code category 999999AB 1 Customer ABCD 999999AB1 Customer ABCD 999999A51 Customer ABCD 999999AB1 S Customer ABCD ABCD 999009451 S Customer Viewing 1 5 of 5 trades matching your search criteria Export
18. B Real Time Transaction Reporting System Manual The chart below provides the description of the firm s role in RTRS Web UserFirm Description _ _ _ _ _ _ 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 Participant Clearing Firm Correspondent A dealer who has a direct relationship Non Participant Dealers with the clearing firm Correspondent of a Correspondent A dealer who effects the transaction and is someone other than the clearing firm or the clearing firm s direct correspondent 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 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 Service Bureau Municipal Securities Rulemaking Board 9 MSRB Real Time Transaction Reporting System Manual Dealers may play the following roles on a transaction report Description The submitter is the agent employed by the effecting dealer to report the transaction to the MSRB on behalf of the effecting dealer A dealer that acts as a
19. Back to Trade Management oooOooEOEeeee ee trade report questionable Regulatory Notices 2 N913 LATE Trade reported after deadline Time of Trade 11 11 26 hh mm ss Participant Capacity Principal Contra Capacity Weighted Average Price No Special Condition No extension Not special price Message Sender ID 1234 Export Trade Data 2 next trade ratte rsa meaty vce Intermediate Broker Contra s intermediate Broker Reversal Control Number Service Bureau ID Regulatory Control Number Regulatory Dollar Price 22 748 The Regulatory Reporting Information section provides some of the basic information about your transaction including Time of Trade Participant Capacity Contra Capacity Weighted Average Price Special Condition Message Sender ID Intermediate Broker Contra Intermediate Broker Reversal Control Number Municipal Securities Rulemaking Board 31 Service Bureau ID MSRB Real Time Transaction Reporting System Manual Regulatory Control Number The lower section applies to comparison data that is used both for clearing and settlement as well as for regulatory reporting XREF Previous XREF Clearing ID Trade Reporting Indicator QSR Target QSR issue Type Buy Sel Contra Trade Date Settlement Date CUSIP RTTMID RTTM Match ID Mema Pending DK Status Par Face Value Dollar Price Accrued Interest Final Money Yield
20. Date 09 24 2012 Fl unknown Commission 900 mmiddiccyy Weighted Average Price No Submitter Effecting Broker ABCD v Not special price sol cn G reset rade submit trade E lf during your entry you want to clear the screen and start over click the Reset Trade button To facilitate quick and easy transaction submission when you have more than one trade to enter with similar data check the Use this information for my next trade box on the top left of the screen prior to submitting your trade Your data will be saved and Municipal Securities Rulemaking Board 17 MSRB Real Time Transaction Reporting System Manual automatically copied to the next transaction page you are 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 the Submit Trade button to submit your transaction RTRS Web first affirms that you have passed the data entry validation checks and if so displays a confirmation page with your unique message submission number Municipal Securities Rulemaking Board 18 MSRB Real Time Transaction Reporting System Manual Part 4 Enter a New IDRO Transaction To enter a new IDRO transaction either select New Trades from the menu bar and then New IDRO Trade from the drop down or select the link Enter New IDRO Trade from the Quick Links section Home View Trades Reports ee ey Customer Trade WELCC New IDRO Trade I
21. ELCOME TO MSRB RTRS RECENT TRADING ACTIVITY if you have any questions please contact us at RTRSWebSpt msrb org ne S l s or call 703 797 6600 during business hours or 703 797 6888 after Show recent aciviy by EBS OR Submitter ID amp EBS Last updated 021 212 at 02 02 31 PM Refresh activity business hours All trades Customer trades Inter dealer trades IDRO trades QUICK LINKS Today rior Week Prior Week Today Prior Week Prior Week Enter New Customer trade Trade Management Q Error Code Review and Response View unapplied messages Search for a trade Reports The Masthead links are accessible through all MSRB screens Masthead Link About RTRS A brief description of the RTRS Web system including the version number J Contact Us Provides contact information including email address phone number and MSRB physical address Help Provides access to the RTRS Web User Manual Municipal Securities Rulemaking Board 13 MSRB Real Time Transaction Reporting System Manual The Menu Bar is available at the top of every RI RS Web User page Menu Bar Link Description New Customer Trade Report a new customer New Trades transaction New IDRO Trade Report a new IDRO transaction 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 categ
22. Information Facilities RIT RS Facility OLD 4 30 2012 aspx SSS m Municipal Securities Rulemaking Board 6 MSRB Real Time Transaction Reporting System Manual Part 1 Access to RTRS Web Go to the MSRB homepage at htip Awww msrb org and click the Login link If you do not have your user name and password please contact MSRB Support at 202 838 1330 MS RB Login About MSRB Publications Careers Email Alerts Contact Us System Status File a Complair M Municipal Securities Rulemaking Board Municipal Bond Market Rules Disclosures and Data Market Leadership News Events amp Training Resources for l a Protecting investors state Investor Toolkit r and local governments s and the public interest Login gt to MSRB systems Resources for Investors Issuers Dealers Advisors What s New View All News MSRB and SIFMA to Co Host Municipal Securities Regulation Seminar in New York in October Monday August 27 2012 MSRB Seeks SEC Approval of Proposal to Enhance Price Transparency for Large Trades gt Friday August 24 2012 MSRB Publishes Report on Municipal Bond Continuing Disclosures Wednesday August 22 2012 MSRB and BDA to Co Host Municipal Securities Regulation Seminar in Chicago in October Tuesday August 21 2012 MSRB Proposes Requiring Dealers to Disclose Additional Information Regarding Bond Ballot Contributions Wednesday August 15 2012 Enter your User ID
23. LATE Inst recd with trade date prior to Jan 2 2002 No dealer response required LATE Trade reported after deadline QUEST Reversal control number missing or incorrect on your or contraparty report QUEST Dollar price calculated from submitted yield differs from submitted price QUEST Dollar price calcd from submitted yield equals premium call not lowest QUEST Dollar price calculated from submitted yield equals par call not lowest QUEST Dollar Price calcd from submitted yield equals maturity date not lowest QUEST DP calcd from submitted yield equals ETM and lower price by call date exists QUEST DP calcd from submitted yield equals prerefunded date and lower call exists QUEST Dollar price missing for regular way CUSIP QUEST Dollar price out of reasonable range Select the desired filter criteria then click the filter trades button to view a list of transactions that match your criteria Municipal Securities Rulemaking Board 25 MSRB Real Time Transaction Reporting System Manual The Error Code Review and Response page provides some of the basic information about your transaction including Regulatory Status Icon CUSIP B S Buy or Sell Transaction Type EBS Par Value Price Yield XREF rade Date Settlement Date Submission Date Refer to the Appendix for additional information about the fields and the validation logic Municipal Securities Rulemaking Board 26 MSRB Real Time Transaction Rep
24. MSRB Real time Transaction Reporting System RTRS Manual Version 3 2 August 2015 ee re M sx Municipal Securities Rulemaking Board MSRB Real Time Transaction Reporting System Manual Revision History Version Date Description of Changes January 0 2005 Initial Version 20 June 2005 Added Discrepancy error code and error code review and response section added November 2005 Added Dealer Data Quality Summary Report June 2006 Added Dealer Data Quality Detail Report poe l Updated expanded hours for RTRS Web 28 November Added Dealer Data Quality Summary of Correspondent s 2007 Trades Report 29 August Updated extended deadline for Dealer Data Quality Summary 2008 Report enhancement November Added Regulatory Dollar Price field for Inter Dealer trades 3 0 9012 Added date range field for Discrepancy Error Report and Destination Code Report Updated RTRS Fields Appendix 3 4 April 2013 Removed detailed instructions for the former Form RTRS application 3 2 August Updated the Resources and Support section to reflect the 2015 change in hours of operation for Email Support Municipal Securities Rulemaking Board 2 MSRB Real Time Transaction Reporting System Manual Resources and Support 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
25. action was received by Municipal Securities Rulemaking Board 61 MSRB Real Time Transaction Reporting System Manual Field Name Transaction Validation Logic Type Shows transactions reported to the MSRB that Unmatched Inter dealer have not been matched to the contra side by RTTM Regulatory status of transactions that received unsatisfactory error codes meaning that the Unsatisfactory Customer transaction did not meet reporting requirements in some manner User ID Included if message was transacted via the RTRS Web or RTTM Web Price Weighted Average oa fee Yes or No for all customer transactions CETS External Dealer Control Number is a 16 character control number for Customer and IDRO and IDRO l transactions Yield is required on all regular way customer transactions for which it can be calculated Enter the yield as less than greater than or equal to the value on the transaction you want to select Municipal Securities Rulemaking Board 62
26. and password then click the Login button MS RB MSRB Home Contact and Support Municip l Securities Rulemaking Board Welcome to MSRB Gateway the secure access point for all MSRB applications including EMMA Click here for guidance on user account management and information about the MSRB s Gateway To return to MSRB org from within the MSRB Gateway application click on the MSRB Home link at Password the top right corner of the page If you are experiencing log in or other system related problems please check the MSRB System Status Page for more information If you need additional help please contact the MSRB via email at GatewaySupport msrb org or by phone at 703 797 6668 Forgot your password The MSRB recommends not bookmarking this page 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 link under Market Transparency Systems Municipal Securities Rulemaking Board 7 MSRB Real Time Transaction Reporting System Manual MSRB Gateway Main Menu Welcome to MSRB Gateway Your User Account has the following Access Rights Click on a section to expand Account and Organization Management gt View Account Administrators View your organization s Account Administrators gt Manage Continuing Disclosure Confirmation Requests Approve confirmation requests and invite individuals to regist
27. ata shown in column A Your Time of Trade should match data shown in column B Contra Time of Trade Municipal Securities Rulemaking Board 51 MSRB Real Time Transaction Reporting System Manual Q33F Regulatory Dollar Price you Indicated is not the same value as the Regulatory Dollar Price on the Matching Side This section lists inter dealer trades where the regulatory dollar price submitted by your firm differs from the regulatory dollar price submitted by the contra party Data shown in column A Your Submission Information should match data shown in column B Other Side Submission Information Contra Effecting Broker 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 RT TM Only DEST01 in addition to trades where there was a destination code discrepancy RIT TM Only DEST0O1 versus RTTM and RTRS DEST01 02 between your firm and the contra party firm For further information on destination code mismatches refer to MSRB Notice 2005 22 The Destination Code Report is generated on a real time basis meaning 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 range from the filter bar at the top then click run report DESTINATION CODE REPORT This report lists trades where both
28. bmitter ID Settlement Date CUSIP Buy Sell Trade Date Special Conditional Trade Instruct Submission Date Transaction Type Recent Submission Date Regulatory Status Par Canceled DKed or Reversed Dollar Price Memo or Pending Yield Match Status Refer to the Appendix for additional information about the fields and the validation logic Municipal Securities Rulemaking Board 28 MSRB Real Time Transaction Reporting System Manual Part 9 View an Existing Transaction select a particular transaction to view by locating it via the Search features Trade Management or Error Code Review and Response screens To display the transaction highlight and click the transaction you wish to view TRADE MANAGEMENT Last updated 09 21 2012 at 06 11 01 PM Refresh activity Viewing 1 6 of 6 trades matching your search criteria Export Trade Data Show me all trade types v in any status 909909481 Customer 09 21 2012 09 24 2012 09 21 2012 999999AB1 Customer 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer 09 21 2012 09 24 2012 09 21 2012 999999AB1 S Customer i 99999 09 21 2012 09 24 2012 09 21 2012 999999AB 1 S Customer i 09 21 2012 09 24 2012 09 21 2012 999999AB1 S Customer 09 21 2012 09 24 2012 09 21 2012 Viewing 1 6 of 6 trades matching your search criteria Export Trade Data Municipal Securities Rulemaking Board 29 MSRB Real Time Transaction Reporting System Manual You are
29. cel an Existing Transaction cccccsssessessecceneeseeseesenseesensessenseseeneeses 42 Part 13 UNappied Messages suia aaa a a a E a EE G 43 Part 14 EXPO Dala iskinita anaien teen dees ecenenenescmceeneseeenecestweeex cadeeeexeceeeaencaes 45 Pait 15 Prnt Dala sosisini niaaa NAANA AA NAANA NAA canteen een tees NAANA 47 Pan TO Repon Si cco sis na A 48 AIRO Daa OUA Me DONS sene E E E EE 49 RTRS Dealer Data Quality Summary REDOST ccccecesseeeeeeessseeesecssseeeeseaesaes 49 RTRS Dealer Data Quality Summary of Correspondent s Trades Report 49 RTRS Dealer Data Quality Detail REDOrt ceeeeeceeeeeeeseeeeeeeseeeeeseeeeeeesseaenees 50 TINS TS OIG aes ones e e sees e yo e specs seers seecse sees see cseaeeee ces 50 Discrepancy Error Code RO DOs t ccssccccssececsseeeceseesceneesceneeseeneesesesseenessaneessaneees 50 Destination Code REDON cressa a aa ai 52 Report of Correspondents cccsseceesseeeeseeeceneeeceseeeceneeseeneeseeeeseaneesaanessoneessaneess 53 S gg sted Searches asseirai araia a aa aAa Eaa niani 54 All trades submitted today that were submitted late s sssssssssnnnsnnunnnnnnnnnnnnnnnnnnnnnn 54 All Trades Submitted Today that Received Unsatisfactory Error Codes 54 All Trades Submitted Today that were Rejected by RTRS ccseccessseeeeeeeeeeeees 54 Exporting TACOS wceceuee cesar cnecmenercn anon tecnduceciateattestenstexeuenctunpusecuaadosuateusueue osueeanoesns 54 ADDEN
30. descending The rows that are displayed based on your search criteria can be sorted to make it easier to find data To view the complete information on a specific transaction click on the line item for that transaction to navigate to the Trade Information screen For the most current information use the Refresh Activity link at the top of this screen The result of your search criteria is limited to 50 pages and 3 000 transactions RTRS Web displays results 50 transactions at a time Use the Next Page and Previous Page buttons to scroll through the results If you choose to print your transaction results page the filter criteria as well as the number of transactions returned also appear Transactions that were rejected by the MSRB are not 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 Specifications for Real time Reporting of Municipal Securities Transactions http www msrb org msrb1 RTRS RT RSSpecificationsV2 4 pdf Municipal Securities Rulemaking Board 15 MSRB Real Time Transaction Reporting System Manual Status Symbols The below status symbols identify the status regulatory or otherwise of the transaction satisfactory Unsatisfactory Questionable eo 2 Canceled Reversed e Trade Reversal Message Status Pending Message Unapplied Message Not Submitted vy
31. directed to the Trade Information screen The Trade Information screen displays the transaction details for a particular trade It also provides the regulatory status i e satisfactory questionable or unsatisfactory and any compliance issues with the transaction as found by the MSRB CUSTOMER TRADE ID 2222222 ABCD Last updated 09 21 2012 at 07 09 59 PM jack to Trade M pac Trade Management Export Trade Data trade report questionable o roset trade cancel trade j2 _ modify trade Field required Regulatory Notices 91 Qo N913 LATE Trade reported after deadiine DE C of tra re O68 The overall status of the transaction can be found in the top left corner of the page just below the Trade Information tab Each transaction displays the status symbol and the regulatory notice for the transaction where any error code received by the transaction is displayed CUSTOMER TRADE ID 2222222 ABCD Last updated 09 21 2012 at 07 09 59 PM Back to Trade Management Trade information trade report questionable Regulatory Notices O N913 LATE Trade reported after deadline oO Q22E QUEST Time of trade before 0600 or after 2100 amp Q31D QUEST CUSIP appears to be invalid The Trade Information screen provides the most current view of the transaction as it has been reported by the dealer according to the MSRB Municipal Securities Rulemaking Board 30 MSRB Real Time Transaction Reporting System Manual For
32. e whereas modifiable elements are in black type Certain fields have limited access based on the type of transaction either an inter dealer customer or IDRO Once you have completed your edits click the modify trade button to submit your changes RTRS Web first affirms that you have passed the data entry validation checks Municipal Securities Rulemaking Board 40 MSRB Real Time Transaction Reporting System Manual and if so displays a confirmation page with your unique message submission number If you have failed one or more of the data entry checks the data fields that have failed along with the reason appear on the screen To resubmit correct the errors and click the modify trade button lf you choose not to correct the errors you may navigate back to the Trade Management screen and continue with no modifications being made to the transaction Modifications are only made if you receive the confirmation page Municipal Securities Rulemaking Board 41 MSRB Real Time Transaction Reporting System Manual Part 12 Cancel an Existing Transaction Select to cancel a transaction via the Search feature Trade Management or Error Code Review and Response screens To display the transaction click on any of the information in the line for the transaction desired you are directed to the Trade Information screen If you have cancellation privileges the transaction is in edit mode with the cancel trade button displayed If you do
33. ect to those aspects of the comparison process that are under the submitter s control gt Reports of Sales or Purchases http www msrb org Rules and Interpretations MSRB Rules General Rule G 14 aspx Municipal Securities Rulemaking Board 10 MSRB Real Time Transaction Reporting System Manual CO Inter Dealer Transactions Data access is determined based on the user s firm type role in the transaction and the type of transaction being accessed All submissions modifications to match data and cancellations of inter dealer transactions must be made via RI TM and are not permitted via RTRS Web User Firm Assigned Privilege View privileges to the match transaction data and to the regulatory data via RTRS Web Modify privileges for regulatory data on inter dealer transactions via RTRS Web Clearing Firms and Effecting Dealers but not service bureaus Original submitter of the transaction and a service bureau if acting on Access the inter dealer behalf of a submitting dealer and transaction the effecting dealers rs as lt 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 D_E Eo Municipal Securities Rulemaking Board 11 MSRB Real Time Transaction Reporting System Manual Customer Transactions User Firm Assigned Privilege All View privileges to customer t
34. ed 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 click run report 8 Users Guides to Dealer Data Quality Reports http www msrb org msrb1 TRSweb RTRS guides DetailReportUserGuide as SSS a Municipal Securities Rulemaking Board 49 MSRB Real Time Transaction Reporting System Manual 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 FimName Dealer XYZ Report Date August2012v nepot E 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 on trades that received unsatisfactory error codes and trades that were reported with Special Condition Indicators To view the report select the desired month click download report and save the file to you
35. er to submit continuing disclosure submissions gt Request Consolidation Send request to consolidate accounts Market Transparency Systems b s and data related to municipal market activity and political contributions gt RTRS Web Interface E i If the RTRS Web Interface link does not appear expand the Account and Organization Management option and click on View Account Administrators and contact one of the listed individuals to request access to RTRS Web Permissions RTRS Web determines your user permissions according to the privileges granted by your firm s Master Account Administrator or assigned by the MSRB based on your type of firm Users associated with the same firm may have different privileges as assigned by the firm s Master Account Administrator Permission Description View modify submit and cancel transactions Includes the ability to run RTRS Web Submission Web reports View transactions and the compliance status and error codes assigned to each transaction View Only Includes the ability to run RTRS Web reports Levels of access are determined in RTRS Web based on the following e ype of firm with which a User ID is associated a participant non participant or service bureau e User s role on the transaction a submitter effecting dealer or intermediate dealer e Type of transaction being accessed an inter dealer customer or IDRO Municipal Securities Rulemaking Board 8 MSR
36. es 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 Exporting Reports Reports can be viewed on the RTRS Web screen and exported to a CSV file or Microsoft Excel file The reports can also be printed as displayed on screen or from the export files The CSV files provide data in the format made available to FINRA examiners 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 Municipal Securities Rulemaking Board 54 MSRB Real Time Transaction Reporting System Manual Where applicable 12 month reports are only available in a CSV file and cannot be displayed online When downloading the file do not change the name of the file prior to saving Municipal Securities Rulemaking Board 55 MSRB Real Time Transaction Reporting System Manual Appendix RTRS Fields The following is an alphabetical list of transaction fields with the corresponding transaction type and validation logic for entry and modification via RT RS Web Field Name Transaction Validation Logic Type Select transactions for which you are the buyer the seller or select the any option to disregard this value in you
37. esponse View unapplied messages Search for a trade Reports 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 search for your transactions However you may always use the search features of RTRS Web to access transactions outside of these pre defined filter criteria TRADE MANAGEMENT Last updated 09 21 2012 at 06 11 01 PM Refresh activity Viewing 1 6 of 6 trades matching your search criteria Export Trade Data 999999AB1 Customer i 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer 666666 09 21 2012 09 24 2012 09 21 2012 999999AB1 Customer 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer 99999 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer i 09 21 2012 09 24 2012 09 21 2012 999999AB 1 Customer 09 21 2012 09 24 2012 09 21 2012 Municipal Securities Rulemaking Board 22 MSRB Real Time Transaction Reporting System Manual a The filters that have been pre defined for managing your transactions are as follows Transaction types Effecting Broker Symbol EBS Status Submitter ID Submission Date Time Frames select the desired filter criteria then click the filter trades button to view a list of transactions that match your criteria The Trade Management page provides some of the basic information about your transaction including Regulatory Status Icon CUSIP B S Transact
38. essage was received in descending order The most recent message at the top of the list corresponds with the most current information viewable on the Trade Information screen INTER DEALER TRADE ID 12345678 ABCD eee Last updated 09 21 2012 at 08 22 53 PM Back to Trade Management coon fade Vata im a C rade canceled vade canceled Q 09118 2012 15 1450 Canceled QQQ000AB1 S agep 140 000 444444 09 18 2012 0921 2012 SYST Interactive Messaging A123456 No Q 0982012151029 nut ooooogagt S ABCD 1000 O qyyyqq O98202 09212012 SYST ogre5 rteradive Messaging No A123456 ste The transaction fields displayed for message history are listed below Transaction Status XREF Received Date and Time Trade Date Record Type Settlement Date CUSIP User ID B S Buy or Sell Message Sender ID EBS Message Medium Par Value Sender Message Number Price Lateness Indicator Yield Refer to the Appendix for additional information about the fields and the validation logic Municipal Securities Rulemaking Board 33 MSRB Real Time Transaction Reporting System Manual Part 11 Modifying an Existing Transaction Select a transaction to modify via the Search features Trade Management or Error Code Review and Response screens To display the transaction click on any of the information in the line for the transaction desired you are directed to the Trade Information screen lf you have modify pr
39. f you have any questions please contact us at RIRSWebspt OT or call 703 797 6600 during business hours or 703 797 6668 one business hours QUICK LINKS Enter New Customer trade Enter New IDRO trade Trade Management Error Code Review and Response View unappllied messages Search for a trade Reports Once you select either option a blank New IDRO Trade screen appears At a minimum you must complete all required fields indicated by a red asterisk Data requirements may be different for each type of trade See MSRB Rule G 14 for required data elements for submission of an IDRO trade A list of data elements and their data entry validations categorized by transaction type customer IDRO or inter dealer are provided in the Appendix Municipal Securities Rulemaking Board 19 MSRB Real Time Transaction Reporting System Manual a lf during your entry you want to clear the screen and start over click the Reset Trade button To facilitate quick and easy transaction submission when you have more than one trade to enter with similar data check the Use this information for my next trade box on the top left of the screen prior to submitting your trade Your data will be saved and automatically copied to the next transaction page you are 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 the Submit Trade button to submit your
40. g relationship with the requested submitter ID SUGGESTED SEARCHES This function provides quick and easy access to the Trade Management Error Code Review and Response or Unapplied Message screens for suggested searches available to the RTRS Web user SelectanEBS ABCD and or Submitter ID any SubmitterID v Show me all trades submitted today that were submitted late all trades submitted today that received unsatisfactory error codes all trades submitted today that were rejected by RTRS Municipal Securities Rulemaking Board 48 MSRB Real Time Transaction Reporting System Manual RTRS Data Quality Reports RTRS Data Quality Reports are available on or about the first business day after the 15t 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 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 changes to reported data The Summar
41. inter dealer transactions the Transaction Information tab is separated into two sections Regulatory Reporting Information and Comparison Information INTER DEALER TRADE ID 1234567 ABCD Last updated 11 01 2012 at 02 28 56 PM Back to Tr Management oo eee trade report questionable Regulatory Notices O N913 LATE Trade reported after deadline Field required reset trade Time of Trade 11 11 26 hhmm ss Participant Capacity Principal Contra Capacity X Weighted Average Price No Special Condition No extension Not special price Message Sender ID 1234 intermediate Broker Contra s intermediate Broker Reversal Control Number Service Bureau ID Regulatory Control Number Regulatory Dollar Price 22 748 XREF Previous XREF Clearing ID Trade Reporting Indicator QSR Target QSR Issue Type Buy Sell Contra Trade Date Settlement Date CUSIP RTTMID RTTM Match ID Memo Pending DK Status Par Face Value Dollar Price Accrued Interest Final Money Yield Concession Special Conditional Trade Extended Settlement Reversal Indicator Market of Execution Sender Reference Number Lateness Indicator Instruct Received Date Time Effecting Broker ABCD Contra s Effecting Broker EFGH Field required g t trad modify trade The upper section applies to regulatory only reporting data INTER DEALER TRADE ID 1234567 ABCD Last updated 11 01 2012 at 02 28 56 PM
42. ion Type EBS Par Value Price Yield XREF rade Date Settlement Date Submission Date Refer to the Appendix for additional information about the fields and the validation logic SSS SSS Municipal Securities Rulemaking Board 23 MSRB Real Time Transaction Reporting System Manual Part 7 Error Code Review and Response The Error Code Review and Response screen functions similar to the Trade Management screen except that you can filter trading activity and compliance results by a particular error code To reach the Error Code Review and Response screen either 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 the Quick Links section Home New Trades Trade Management WELCOME TO MSRE Error Code Review and Response lf you have any questions pleas View Unapplied ici or call 703 797 6600 during business hours or U3 9 b business hours QUICK LINKS Enter New Customer trade Enter New IDRO trade Search for a trade Reports Filters are located at the top of the screen to facilitate easy selection and viewing of your transactions ERROR CODE REVIEW AND RESPONSE Last updated 09 21 2012 at 06 36 14 PM Refresh activity Viewing 1 5 of 5 trades matching your search criteria Export Trade and Error Data Show me _ with error code Submitted within this date range alltrade types sv N913 look u
43. ion lists trades where the Regulatory Dollar Price submitted by your firm differs from the Regulatory Dollar Price submitted by the contra party Your Regulatory Dollar Price Contra Regulatory Dollar Price Should Match Col B Should Match Col A CUSIP XREF Your Submitter ID Your Effecting Broker Contra Submitter ID Contra Effecting Broker Buy Sell Match TID TiD No data found amp If you have modified or reversed a transaction after the time and date of match this updated information does not appear 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 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 D
44. ivileges the transaction is presented in edit mode with the modify trade button displayed If you do not have modify privileges you are not able to modify the transaction but you can view the transaction INTER DEALER TRADE ID 12345677 ABCD 9 28 t05 42 25 PM Back to Trade Management Last updated 09 28 2012 a SEEN poe Previous trade a l Fjeld required trade report questionable resettrade modify trade Regulatory Notices O N913 LATE Trade reported after deadline Export Trade Data Time of Trade 10 00 00 Intermediate Broker Contra s Intermediate Broker Participant Capacity Agent Reversal Control Number Contra Capacity Service Bureau ID Weighted Average Price No Regulatory Control Number Special Condition No condition below applies Not special price Message Sender ID 1234 7 XREF Par Face Value Previous XREF Dollar Price Clearing ID g Accrued Interest Trade Reporting Indicator Final Money QSR Target QSR issue Type Yield Buy Sell Contra Special Conditional Trade Trade Date Extended Settlement Settlement Date Reversal Indicator Market of Execution CUSIP Sender Reference Number RTTMID RTTM Match ID Lateness Indicator Mema Pending Instruct Received Date Time DK Status Effecting Broker ABCD Contra s Effecting Broker EFGH EM Leese race You may modify any of the data elements that are not set to view only View only data elements are presented in light gray typ
45. onfirm that your information is correct If your information is incorrect plea submit a modify record with the correct information Note that results are based on trade information at time of match If you have modified or canceled trade information post match updated trade information will not be reflected on this report Export Report Data Last updated 10 23 2012 at 01 11 56 PM Q19F Accrued interest Different on Buyer and Seller Sides Q22F Seller and Buyer Times of Trade Differ by More Than 15 Minutes Q33F Regulatory Dollar Price you indicated is not the same value as the Regulatory Dollar Price on the Matching Side Q19F Accrued Interest Different on Buyer and Seller Sides back to top This section lists trades where the accrued interest submitted by your firm differs from the accrued interest submitted by the contra party Contra Accrued Interest Should match Col A cusiIP XREF Your Submitter IO Your Effecting Broker No data found Q22F Seller and Buyer Times of Trade Differ by More Than 15 Minutes back to top This section lists 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 Contra Time of Trade Prat sacha A out tach CAN CUSIP XREF Your Submitter 1D Your Effecting Broker No data found Q33F Regulatory Dollar Price you indicated is not the same value as the Regulatory Dollar Price on the Matching Side back to top This sect
46. or equal to the date on the transaction you want to select This field must be a valid date and Settlement Date greater than the Trade date For inter dealer transactions this field indicates the settlement date of transaction or initial settlement date of offering Part A indicates if the transaction has an exception to the standard 15 minute reporting rule Special Condition Indicator Part A Select no extension EOD LOP TD End of Day List Offering Price or EOD Variable Rate Auction Rate CP Commercial Paper Part B indicates if the transaction has a special Special Condition condition that affects the Price Indicator Part B Select not special price traded flat or away from market price other reason Select the transactions that were tagged with a specific value or select the any option to disregard this value in your search All Includes regulatory status and match status Includes pre defined time frames to filter your Submission Date transactions Note that specific date range Special Conditional Trade Time Frames searches are available from the Advanced Search Submission All Input a specific date or date range to display all transactions submitted within the inputted date Municipal Securities Rulemaking Board 60 MSRB Real Time Transaction Reporting System Manual Field Name Transaction Validation Logic Type Regulatory status that indicated the total number of Submitted Al transactions
47. orting System Manual Part 8 Search for a Transaction There are two ways to search for a particular trade in RTRS Web either Quick Search or Advanced Search located at the top of every RTRS Web screen Quick Search Xref iy ee p You can use the Quick Search option to search for a transaction by a certain field either by CUSIP Xref TID or Reg ID You can use the Advanced Search option to search for a transaction by certain criteria Although you may enter or leave some criteria blank one of the following criteria is always required either the CUSIP trade date instruct submission date or recent submission date RADE SEARCH ill in any or all of the fields below to find matching trades Blank criteria will be ignored Buy Sell Special Conditional Trade Any Trade Type Inter dealer Regulatory Status Any Trade Status Submission Date Canceled DKed or Reversed Any saa 08012012 Eto 08312012 E Memo or Pending Any Recent E Match Status Any Par Face Amount Dollar Price Yield Final Money Settlement Date The Advanced Search in the screenshot above for example returned all inter dealer transactions with Submitter ID 1234 that were bought between trade dates 08 01 2012 and 08 31 2012 Municipal Securities Rulemaking Board 27 MSRB Real Time Transaction Reporting System Manual The criteria for searching transactions are below Effecting Broker Final Money Su
48. ory along with status and error code information Unapplied Messages View messages that were rejected by RTRS View various reports for transactions reported by and Reports for your firm Log Off Log off of RTRS Web Back Beno Takes you to the MSRB Gateway Main Menu Gateway Input desired information to locate transaction information quickly a Execute a detailed search of your reported transactions Quick Links Quick Links are short cuts to common activities that are conveniently located to the left of the RTRS Web homepage Quick Link Enter New Customer trade Report a new customer transaction Trade Management Access to the Trade Management screen Error Code Review and View and search for transactions with error prior month up to the current business day View Trades Access to input desired information to Search for a trade st locate transaction information quickly View various reports for transactions Reports reported by and for your firm Municipal Securities Rulemaking Board 14 MSRB Real Time Transaction Reporting System Manual Tool Tips For any field that requires input hovering over the field gives a short description of the data element required Search Results The criteria entered for the search is displayed at the top of the results page along with number of transactions returned To sort the data click the column heading of the data element once for ascending order and twice for
49. p from to for and OR error code category OR submitted within anyEBS Y 1234 s 999999AB1 Customer i 09 21 2012 09 24 2012 09 21 2012 999999AB1 Customer 09 21 2012 09 24 2012 09 21 2012 999999AB1 Customer 09 21 2012 09 24 2012 09 21 2012 999999AB1 Customer l 99909 09 21 2012 09 24 2012 09 21 2012 999999AB1 Customer 09 21 2012 09 24 2012 09 21 2012 Municipal Securities Rulemaking Board 24 MSRB Real Time Transaction Reporting System Manual The filters that have been pre defined for reviewing and responding to your transactions are as follows Transaction types Effecting Broker Symbol EBS Submitter ID Error Code Error Code Category Submission Date Range Submission Date Time Frames Click the Look Up link next to the error code field in the filter bar to filter transactions by a specific error code or by a category of error codes with error code 2 The Error Code Categories screen appears where error codes can be filtered by category or by keyword When you have located the desired error code click on the error code line item to pre populate the error code field in the Error Code Review and Response screen filter ERROR CODE CATEGORIES To select the error code that you would like to view in Error Code Review and Response use the drop down or keyword fields to narrow your choices Select the desired error code to close this window and return to the Error Code Review and Response page
50. r computer RTRS DEALER DATA QUALITY DETAIL This report identifies specific trades that are counted in each category of the Dealer Data Quality Summary report Firm Name Dealer XYZ Report Date August2012 downloadreport The report is provided in Microsoft Excel format You can then open the report in Microsoft Excel or any program that can open xls files Other Reports 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 The Discrepancy Error Code Report is generated on a real time basis meaning you can generate a report to show all trades for a specified time period that received a Q19F Q22F or Q44F error code To begin select an EBS or a Submitter ID from the filter bar Next select a date range using the Match Date between calendars and click run report Municipal Securities Rulemaking Board 50 MSRB Real Time Transaction Reporting System Manual DISCREPANCY ERROR CODE REPORT This report ists trades where the information submitted by your firm differs from the information submitted by the contra party firm resulting in a Q19F Q22F or Q33F error code Please c
51. r search Buv Sell Indicator Customer Enter Buy or Sell for customer and IDRO and IDRO Itransactions Regulatory status of transactions that were canceled or reversed Select DK to search for inter dealer transactions that have been marked by RTTM as DKed Select Canceled to search for inter dealer customer or IDRO transactions that have been canceled Customer Buy Sell B S and IDRO Canceled DKed or Customer Reversed and IDRO Select 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 Capacity Contra Select Agent or Principal Capacity or Customer Participant and IDRO Capacity a Customer Total dollar amount of commission Commission and IDRO Contra Effecting IDRO and Effecting broker symbol for the counter part of the Municipal Securities Rulemaking Board 56 MSRB Real Time Transaction Reporting System Manual Field Name Transaction Validation Logic Type Broker Inter dealer jeffecting dealer on the transaction 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 Enter the 9 digit CUSIP of the transaction you want to search for A partial CUSIP may be used for searching e g 123456
52. rade Management Error Code Review and Response Unapplied Messages and Trade Information screens On each of these screens there is a small printer icon in the top right corner of the screen Only the data elements displayed on the screen are printed not the underlying data of the transaction You may export the transaction to Microsoft Excel or a similar program and print In addition all Result Set Views 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 47 MSRB Real Time Transaction Reporting System Manual Part 16 Reports The Reports section of RT RS Web provides functionality based on transactions submitted by and for your firm To access the reports select Reports from the menu bar or select Reports from the Quick Links section New Trades View Trades VWELCOME TO MSRB RTRS If you have any questions please contact us at RIRSWebSptmmsrb _org or call 703 797 6600 during business hours or r03 79 6668 after business hours QUICK LINKS Enter New Customer trade Enter New IDRO trade Trade Management Error Code Review and Response View unapplied messages Search for a trade Reports lt ports There are three categories of reports available RTRS Data Quality Report Other Reports and Suggested Searches RTRS DATA QUALITY REPORTS RTRS Dealer Data Quality Summary This report describes your fi
53. ransactions via RT RS Web Clearing firms with NSCC participant IDs and Non Privileges to submit customer transactions participant dealers with valid via RTRS Web MSRB assigned Submitter IDs Clearing Firms and Non Modify and cancel privileges for customer participant Dealers transactions via RTRS Web IDRO Transactions Assigned Privilege Firms with a valid MSRB assigned Submitter ID or Privileges to submit modify and cancel NSCC participant ID and IDRO transactions via RTRS Web submits for another dealer View privileges to IDRO transaction data Service Bureau via RTRS Web for those transactions they have submitted on behalf of a firm An effecting broker cannot see IDROs submitted by its clearing firm on its behalf Municipal Securities Rulemaking Board 12 MSRB Real Time Transaction Reporting System Manual Part 2 RTRS Web Interface Navigation Key functions of RTRS Web include submitting transactions viewing and modifying recent transactions and searching for transactions After a trade submission RTRS Web provides detailed information regarding your transaction submission any compliance errors that may have occurred your current transaction reporting status as well as your transaction reporting history This section describes some of the basic navigation used for the RTRS Web interface T MSR Logged in as John Doe for Dealer XYZ Home New Trades View Trades Quick Search xe vf r W
54. rm 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 are counted in each category of the Dealer Data Quality Summary report 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 Q33F 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 DESTO1 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 clearin
55. submitter for another dealer has specific responsibility to ensure that transaction reporting requirements are met with respect to those aspects of the reporting process that are under the submitter s control Dealers who effect transactions are required by the MSRB and by Effecting Dealer other organizations to comply with MSRB rules including but not limited to conducting 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 Dealers who act as a correspondent of a clearing broker that passes data to the clearing broker about transactions effected by a third dealer or an effecting dealer to be included on applicable trade reports Intermediate Broker For any transaction the submitter of the transaction 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 submits inter 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 resp
56. ter dealer 50 000 444444 09 19 2012 09 24 2012 09 21 2012 B Inter dealer 25 000 09 19 2012 09 24 2012 09 21 2012 B Inter dealer 90 000 09 19 2012 10 10 2012 09 21 2012 B Inter dealer 25 000 09 19 2012 10 10 2012 09 21 2012 999999AB1 999999AB1 The filters for searching unapplied messages are as follows Transaction types Submission Date Time Frames Effecting Broker Symbol EBS Submitter ID Once you have chosen your filter criteria click the Filter Trades button to view a list of messages that match your criteria The Unapplied Messages screen provides the following information about your transaction message CUSIP B S Buy or Sell Transaction Type EBS Par Value Price Yield XREF Trade Date Settlement Date Submission Date Refer to the Appendix for additional information about the fields and the validation logic Municipal Securities Rulemaking Board 44 MSRB Real Time Transaction Reporting System Manual Part 14 Export Data Search results can be exported from RI RS Web from the Trade Management Error Code Review and Response or Quick Search features To export a list of trades use the filter criteria at top of the page to return desired list of trades click Export Trade Data from the top of the page above the results Next click Save and input the desired file name and file location then click Save again TRADE MANAGEMENT Last updated 09 21 2012 at 06 11
57. the principal IDRO Trades position of its clearing broker Inter dealer Trades Inter dealer Indicates trades between dealers Malena cclacheatoamlalinicridecier Indicates whether or not the message was received by the MSRB late Matched IMTeTeG SAGE Shows transactions reported to the MSRB that have been matched to the contra side by RI TM Select Memo to search for transactions that have been placed by RTTM in memo status Select Pending to search for transactions that have been placed by RTTM in pending status Memo or Pending All 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 RTRS Web RT TM Web Interactive Messaging RT TM Event Message lf the user is the submitter of the transaction select the user s Submitter ID Message Sender lf a user has more than one Submitter ID then the ID Inter dealer user must choose which submitter to use for this transaction lf the user is the effecting dealer of the transaction and did not submit on their own behalf then select Message Medium Municipal Securities Rulemaking Board 58 MSRB Real Time Transaction Reporting System Manual Field Name Transaction Validation Logic Type the user s EBS lf a user has more than one EBS the user must choose which EBS to use for this transaction The amount of principal that must be paid at maturity The par value is also referred
58. tion Code Report displays transactions in three categories Category A includes transactions where both your firm and the contra party firm indicated RT TM Only DEST01 Category B includes transactions where your firm indicated RT TM Only DEST01 and the contra party indicated RI TM and RTRS DEST01 02 Category C includes transactions where your firm indicated RTTM and RTRS DEST01 02 and the contra party indicated RI TM Only DEST01 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 are included on the report To generate this report select a Submitter ID from the filter bar at the top Click the run report button 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 Select a Submitter ID 1234 v The following firms have indicated that they have a current clearing relationship with Submitter ID 1234 Created 09 23 2012
59. ustomer and IDRO transactions are subject to the 15 minute reporting requirement as of January 31 2005 with exceptions as noted in MSRB Rule G 14 RTRS 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 24 hours per day 7 days per week RTRS Web is available for submitting new trade reports and modifying and cancelling existing trade reports from 6 00 a m until 9 00 p m ET on RTRS Business Days The RTRS Business Day on which dealers are required by Rule G 14 to submit trade reports within 15 minutes of execution begins at 7 30 a m and ends at 6 30 p m ET However RTRS accepts and disseminates any trade reports received between the RTRS window hours of 6 00 a m and 9 00 p m ET Trade reports submitted to RT RS after 9 00 p m will not be processed by RTRS but will be pended for processing and dissemination at 6 00 a m the next business day 2 Reports of Sales or Purchases MSRB Rule G 14 http www msrb org msrb1 rules ruleg14 htm 3 Real time Transaction Reporting Rule G 14 MSRB Notice 2005 02 January 10t 2005 http www msrb org Rules and Interpretations Regulatory Notices 2005 2005 02 aspx n 1 4 Facility For Real Time Transaction Reporting and Price Dissemination The Real Time Transaction Reporting System or RTRS http www msrb org Rules and Interpretations
60. y from the prior month up to the current business day To reach the Unapplied Messages screen either select View Unapplied Messages from the View Trades drop down or select Unapplied Messages from the Quick Links section Home New Trades Trade Management WELCOME TO MSRE Error Code Review and Response lf you have any questions pleas or call 703 797 6600 during bu business hours QUICK LINKS Enter New Customer trade Enter New IDRO trade Trade M nt Search for a trade Reports Unapplied messages include messages that were submitted by or on behalf of the user s firm that were rejected by the RTRS system and therefore not applied to any current transaction report within RTRS For a customer transaction if a modify message for a customer transaction report is received but the instruct message cannot be found based on the control numbers provided that modify message will be rejected by RTRS and the modify message will appear in Unapplied Messages For an inter dealer transaction if a match of a comparison only submission or step out trade occurs it is considered an unapplied message and RTI TM then forwards to RT RS a match record for the step out submission If the match record cannot be applied to any previously received instruct because the instruct message was sent to RT TM only that match record becomes an unapplied message For further information about step out submissions see MSRB Notice 2005 22 7
61. y Report can be viewed in a one month or 12 month version To obtain the one month report select the month desired from the drop down and click run report To obtain the 12 month report select the month for which you would like the 12 months preceding inclusive of the selected month and click run 12 month report 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 rep orte d data in ludes a lateness breakout of the trade data elect month and year to run single month report for the month and year selected or 12 month report for 12 months leading up to and including the month and year selected Firm Name Dealer XYZ ReportDate August2012 runrepot run 12 month report 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 reporting 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 affected by a correspondent dealer regardless of which dealer clear

RTRS Web User Manual

Contents

Download Pdf Manuals

Related Search

Related Contents