Municipal Securities: Overview of Market Structure, Pricing, and Regulation

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By A. Nicole Clowers (au)
Year: 2012
Pages: 91
Binding Paperback
ISBN 978-1-4578-2763-1

Product Code: 1457827638

Description

Municipal securities are debt instruments that state and local governments typically issue to finance diverse projects. Individual investors, through direct purchases or investment funds, own 75% of the estimated $3.7 trillion in municipal securities in the U.S. market. In the secondary market, where these securities are bought and sold after issuance, trading largely occurs in over-the-counter markets that are less liquid and less transparent than the exchange-traded equity securities market. This report examines: (1) municipal security trading in the secondary market and the factors that affect the prices investors receive; and (2) the SECäó»s and self-regulatory org. enforcement of rules on fair pricing and timely reporting. Charts and tables. A print on demand report.

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