The commit message says it all: Fix MULTI / EXEC rendering in MONITOR output. Before of this commit it used to be like this: MULTI EXEC ... actual commands of the transaction ... Because after all that is the natural order of things. Transaction commands are queued and executed *only after* EXEC is called. However this makes debugging with MONITOR a mess, so the code was modified to provide a coherent output. What happens is that MULTI is rendered in the MONITOR output as far as possible, instead EXEC is propagated only after the transaction is executed, or even in the case it fails because of WATCH, so in this case you'll simply see: MULTI EXEC An empty transaction.