Apr. 23, 2024
Regarding the proposed rule change from the current 15 minute reporting window, to a one minute window, I oppose the change. I have been in the municipal bond industry for 39 years, primarily in muni sales and trading. The claim that the proposed change will benefit transparency, particularly to the retail end buyer, is without basis. My client base is all ”retail”, and I assure you that the current mode of reporting is perfectly adequate for my client’s needs. The amount of error I think that will occur in hurrying the trade reporting to one minute is likely to be large, to say the least. The financial burden will most affect smaller firms, which also happen to carry primarily retail accounts. We have a saying in Texas, “if it ain’t broke, don’t fix it.” Please leave the reporting time as it is. NASDAQ: RILY DAVID C. JADERLUND