The MSRB requested feedback from market participants and the general public on the accessibility, methodology and utility of indices, yield curves and benchmarks available in the municipal market.
In a notice, the MSRB outlined eight questions intended to inform the MSRB's research into the use and availability of benchmarks in the municipal securities market. Until the comment deadline on November 27, 2018, the MSRB is seeking feedback on:
- the specific benchmark(s) and benchmark type(s) used in the municipal securities market;
- the purpose of benchmarks;
- whether all municipal market participants use benchmarks;
- the types of inputs used to create municipal benchmarks;
- whether methodologies in creating the benchmarks are sufficiently transparent;
- if there are concerns as to the integrity of the benchmarks;
- whether the International Organization of Securities Commissions' Principles for Financial Benchmarks are "appropriate"; and
- any other relevant information.
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