Sample Reports


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Complete Closing Report

This report consists of all the reports listed below for the bond series being tracked.  The report contains all the information necessary to: 1) document and explain market trading activity, including identification of any transactions that fall outside established thresholds, and 2) determine compliance with regulations.

 

Summary of Findings
Summary of Findings

This summary report provides quick reference to questionable bond trading activity on a CUSIP-by-CUSIP basis. This report identifies whether a Price Threshold has been breached (have there been any premium trades?) and whether the Safe Harbor test has been met (has 10% of each maturity been sold to the public?).

Summary of Trading Activity
Summary of Trading Activity

This report provides at-a-glance statistics of trading activity on a CUSIP-by-CUSIP basis, including total number of trades, number of premium trades, minimum and maximum prices, and weighted average price.

Issue Price Alerts
Issue Price Alerts

This critical report identifies whether trading activity has breached pre-defined Price Thresholds (e.g. the original issue price or the BABs de minimis amount of premium). The user will be able to quickly identify if any given CUSIP has breached a Price Threshold both on an unadjusted and a market-adjusted basis.

MuniPriceTracker will calculate and identify whether changes in market rates explain changes in the prices of secondary bond trades.

Threshold Trades – Unadjusted
Threshold Trades – Unadjusted

This detailed report identifies all trades that breach a pre-defined Price Threshold without any adjustment for movement in market interest rates (unadjusted). No calculations are performed or necessary here – this simply reports premium trades. The report is organized on a CUSIP-by-CUSIP basis.

Threshold Trades – Market-Adjusted
Threshold Trades – Market-Adjusted

This detailed report identifies all trades that breached a pre-defined Price Threshold on a market-adjusted basis. Prices are adjusted for changes in the relevant interest rate market. Calculations are fundamental to the statistics on this report, and will help identify whether interest rate market changes can explain away any or all premium trades. The report is organized on a CUSIP-by-CUSIP basis.

Market-Adjusted Price Calculation
Market-Adjusted Price Calculation

This report is for those who like numbers, as it identifies the change in market rates that are used to re-calculate an individual CUSIP’s Market-Adjusted Price. While our pricing algorithm is complex, we’ve made the report easy to read and understand. This report also identifies what percentage of any premium trade is not explained by market movement, a statistic that is used in further analysis identified on the next report.

Unexplained Premium
Unexplained Premium

This report provides, in dollars, the amount of premium on secondary trades that cannot be explained by market movement. The report is organized on a CUSIP-by-CUSIP basis, and also totals the unexplained premium for the entire bond series. You can now observe how trading activity could affect the Issue Price of any bond.

Safe Harbor Alerts
Safe Harbor Alerts

This report details whether at least 10% of each CUSIP has been sold to the public at or below the Original Issue Price. It's important to verify that the bond series has met the Safe Harbor test.

Trade Detail – All Trades
Trade Detail – All Trades

This report contains all the raw trading data, nicely organized on a CUSIP-by-CUSIP basis, eliminating the need to look at several pages on the EMMA website. MuniPriceTracker has gathered and formatted bond trade data in an easy-to-read manner.

Automated Price Threshold Notification
Automated Price Threshold Notification

This is a sample of the email you will receive when a trade has occurred in breach of the price thresholds.