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MSRB proposes shortened settlement cycle for municipal securities to two days

( March 1, 2016, 22:06 GMT | Official Statement) -- MLex Summary: The Municipal Securities Rulemaking Board on Tuesday said it is seeking US Securities and Exchange Commission approval for a proposed rule change to shorten the settlement cycle for municipal bond trades to two days from three. The MSRB's plan comes amid a broader industry initiative to shorten the settlement cycle for stocks and bonds after the trade date.Statement follows in full. Also see document below....

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