The author provides market context to the MSRB’s 2016 mandate that “best execution,” a hallmark of the taxable fixed income and equity markets, becomes a staple for retail municipal bond investors. The discussion includes: (i) Current municipal price discovery methodologies, (ii) Electronic markets’ regulatory compliance tools, (iii) Implementation Guidance on MSRB Rule G-18, on Best Execution; and (iv) Recent municipal enforcement actions.
The ins and outs of decentralized digital asset exchanges
However, decentralized exchanges (DEXs) like Uniswap and PancakeSwap allow users to trade digital assets directly, without intermediaries. While this...