The Municipal Securities Rulemaking Board plans to discuss the ongoing development of both the Electronic Municipal Market Access program and its short-term transparency system for auction-rate securities and variable-rate demand obligations at a three-day meeting that begins today at its Alexandria, Va., headquarters.

The meeting is the first for the new board, which includes seven new members and is chaired by Ron Stack, managing director and head of finance at Barclays Capital in New York. It comes amid unprecedented tumult in the municipal market that led the board earlier this year to propose establishing a system for the collection and dissemination of critical market information about ARS and VRDOs. Currently, trades of such securities are publicly reported at par and are not required to include interest-rate reset information.

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