MSRB to Keep 15-Minute Trade Reporting Rule for Municipal Debt

The federal regulator for the $4.2 trillion municipal-bond market will retain a 15-minute trade reporting rule rather than implement a shorter one-minute deadline.

The Municipal Securities Rulemaking Board, which oversees debt sold by states and localities throughout the US for public-works projects, rescinded the shorter reporting standard approved in September 2024 but that had yet to take effect. The MSRB decided to keep the existing 15-minute standard after discussions with market participants, Mark Kim, the MSRB’s president and chief executive officer, said in a statement Monday.

“Updated data on reporting timeframes since the initial trade data analysis from the ...