Press Release Nov. 2013
Municipal Bond Information Services, LLC
MUNICIPAL BOND INFORMATION SERVICES FORMS TO INTRODUCE PRE-TRADE PRICE TRANSPARENCY SERVICE FOR THE MUNICIPAL BOND MARKET PLACE
NEW YORK, NY (November, 2013) – Municipal Bond Information Services (MBIS), a newly formed consortium of municipal market service providers, announced today that it will launch a new suite of products designed to enhance pre-trade price transparency and post-trade operational practices for the municipal bond marketplace. Through MBIS, municipal bond investors and operations professionals within financial institutions may, for the first time, access a consolidated source of pre-trade pricing information. Triangle Park Capital Markets Data, an information services company, will manage the business operations for MBIS.
An initial product launch is scheduled for late November 2013, with a full product launch expected early in the first quarter of 2014. MBIS plans to continue adding new content and features in future releases, including expanding the scope of the bid and offer market price data, and offering analytic information to drive best practices in meeting municipal marketplace operational and compliance challenges.
“Our mission is to deliver practical access to information that can enhance pre- and post-trade price analysis in the municipal secondary market,” said Ron Valinoti, spokesperson for MBIS. “With access to our leading indicative price information, customers will have a better view of the broader marketplace when formulating their relative value opinions for municipal investments.”
The MBIS consortium brings together some of the largest brokerage services and alternative trading systems (ATS) in the municipal bond market, including:
Associated Bond Brokers, Inc.
Butler Muni, LLC
Hartfield, Titus & Donnelly, LLC
RW Smith and Associates
Regional Brokers, Inc
Sentinel Brokers Company, Inc.
Stark Municipal Brokers
Tradeweb Markets, LLC
Tradition Asiel Securities Inc.
Tullett Prebon Financial Services, LLC
Municipal Bond Information Services, LLC was formed in direct response to the concerns raised in the Securities and Exchange Commission (SEC) Report on the Municipal Securities Market of July 2012. Built from a consortium of eleven firms, the new business venture delivers products designed to enhance pre-trade price transparency as well and post trade operational practices. These products and services are designed to address structural deficiencies that are attributable, in part, to limited price transparency in the municipal bond markets. In addition to Triangle Park Capital Markets Data, MBIS is made up of a consortium of ten of the leading brokerage services and alternative trading systems providers.
Contact: Ron Valinoti
Phone: 1 (603) 583-4451