WASHINGTON — DPC Data Inc., is urging the Securities and Exchange Commission to delay for six months the planned July 1 switch from four nationally repositories for issuers' secondary market muni bond disclosures to one run by the Municipal Securities Rulemaking Board called EMMA, warning that the transition is "a disaster waiting to happen."

In a three-page letter sent to SEC chairman Mary Schapiro Monday that was not released until yesterday, DPC Data president Peter Schmitt said that the MSRB and its contractors have not provided enough technical support for subscribers to plan, develop or test receiving real-time data feeds that will transmit data submitted to EMMA. In addition to delaying the switch by six months, Schmitt suggested that the MSRB's EMMA operate as a fifth nationally recognized municipal securities information repository after July 1, instead of as a replacement for the NRMSIRs.

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