WASHINGTON - The Municipal Securities Rulemaking Board has filed a proposal with the Securities and Exchange Commission to require the submission of interest-rate information for auction-rate securities and variable-rate demand obligations to a short-term market transparency system that the board hopes to launch next year.

The information will be collected and disseminated through SHORT, the Short-term Obligation Rate Transparency System, that the MSRB hopes to launch in an initial format on Jan. 30, 2009. Two subsequent phases, which the board hopes to launch during the first half of 2009, will include bidding information and documents for auctions and remarketings.

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