Our partnership with MBIS provides the market access to an unprecedented database that supports the SEC and MSRB’s goal of transparency through a simple interface.
Stamford, CT and New York, NY (PRWEB) October 20, 2014
DIVER by Lumesis Inc., a leading provider of business efficiency, credit, data and regulatory compliance solutions for the municipal bond market, today announced a strategic partnership with Municipal Bond Information Services, LLC (MBIS) to boost municipal bond market transparency.
The joint commitment will enhance pre-trade price transparency and post-trade operational practices.
As part of the partnership, Lumesis and MBIS will channel MBIS’s pricing and comparable bond data through DIVER’s Advisor platform. The MBIS data provides a critical mass of municipal secondary market observable pricing in aggregate that can be leveraged by Advisor platform users in pre-trade investment decision-making. The DIVER Advisor platform, which helps firms address their time of trade disclosure and suitability obligations, now offers data presented in a price comparison analysis to efficiently support “fair and reasonable” pricing and best execution workflow and compliance.
Lumesis has combined MSRB historical trade data with the MBIS pricing and comparable bond database in an easy to use price analysis that provides sales, trading and private wealth management professionals access to a powerful price discovery tool. Beyond the fundamental value of this broad presentation of market execution and indicative levels (not evaluated prices), DIVER Advisor provides its users with a documented, consistent compliance process to help meet regulatory requirements.
“Our partnership with MBIS provides the market access to an unprecedented database that supports the SEC and MSRB’s goal of transparency through a simple interface. The partnership is a strong, strategic fit, leveraging the two leading companies’ respective strengths allowing us to provide solutions to multiple regulations in a single platform, DIVER Advisor,” said Gregg L. Bienstock Esq., CEO and Co-Founder of Lumesis.
“It has been a key objective for MBIS to provide broad access that is practical and efficient for customers to leverage our content that can enhance pre- and post-trade price analysis in the municipal secondary market. Our partnership with Lumesis will allow us to reach audiences that need access to pre-trade market information. Access to MBIS data via DIVER Advisor will afford clients a better view of the broader marketplace when formulating their value opinions for municipal investments,” said Ron Valinoti, Founder of Triangle Park, who manages MBIS on behalf of its ten Municipal Brokerage partners.
About Lumesis, Inc.
Lumesis Inc. is a financial technology company focused on providing business efficiency, data and regulatory solutions for the Municipal marketplace under the DIVER brand. The DIVER platform provides access to and use of hundreds of data sets allowing clients to more effectively and efficiently address business needs and comply with new and evolving regulatory requirements. The DIVER suite of solutions provides regulatory support helping address the new time-of-trade, suitability and supervisory rules, standard of creditworthiness as required by Dodd-Frank and addresses the realities of the municipal marketplace: stale financials, fiscal uncertainty and infrequent ratings.
About Municipal Bond Information Services, LLC (MBIS)
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.