A direct feed of the reset information for auction-rate securities and variable-rate demand obligations that dealers submit to the Municipal Securities Rulemaking Board will cost $10,000 annually if the Securities and Exchange Commission signs off on a proposal submitted by the board Tuesday.

The MSRB, which is proposing to begin the subscription service on Sept. 30, currently collects basic auction and remarketing information for ARS and VRDOs through its short-term obligation rate transparency system.

A separate proposal to expand the SHORT system to include bidding ­information and program documents for ARS and VRDOs is also pending before the SEC. It has gone through multiple iterations and comment periods, the most recent of which is set to expire later this month.

MSRB officials said subscribers to the bulk SHORT feed would receive the additional bidding and program documents once the system is expanded. The board wants to roll out the expanded system within nine months after the SEC approves it.

SHORT data continues to be available to individuals for free through the board’s EMMA website, which also features three additional data and information streams: near real-time transaction data, primary market documents such as offering statements, and continuing disclosure filings submitted by issuers and borrowers.

Bulk subscriptions for the other three streams are already available, and vary in annual costs at $5,000 for the trade data, $20,000 for primary market disclosure, and $45,000 for secondary market ­disclosures.

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