MSRB Announces Three Seminars On New Issue Dissemination System

The Municipal Securities Rulemaking Board announced yesterday that it will conduct three seminars on the testing and implementation of the New Issue Information Dissemination System, or NIIDS, next month.

The free, three-hour seminars will include representatives from the MSRB, the Securities Industry and Financial Markets Association, and the Depository Trust & Clearing Corp., which is designing the system with industry input.

Already in testing and slated to formally start operation Sept. 30, NIIDS is a centralized system for the collection and dissemination of information from new issues of municipal securities. The system is designed to improve the timeliness and accuracy of such information.

Under NIIDS, the DTCC will collect information about new bonds from underwriters or their intermediaries and then electronically disseminate it in a uniform manner and on a near-real-time basis to information vendors and other market participants.

The first seminar will by held June 12 at the Dallas-Fort Worth Airport Grand Hyatt, while the second will be held June 18 at the offices of Griffin, Kubik, Stephens & Thompson Inc. in Chicago. The final seminar will take place June 24 at SIFMA's New York City conference center.

Though the events are free, pre-registeration is required through the Web site at www.sifma.org/NIIDS2008.

 

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