WASHINGTON - The Municipal Securities Rulemaking Board has increased the fees it charges for several of its data subscription products and services.
The changes, which were announced late last week and effective upon filing, relate to the MSRB's EMMA system, Real-time Transaction Reporting System [RTRS] and Short -Term Obligation Rate Transparency (SHORT) System.
Beginning April 1, the annual fees will be increased for the RTRS data subscription service to $11,000 from $10,000. The comprehensive data subscription service for RTRS consists of three trade reports: transaction data one business day after the trade, transaction data five business days after the trade, and transaction data 20 business days after the trade. The comprehensive transaction data subscription service fee will rise to $5,500 from $5,000.
The SHORT System collects and disseminates information about securities bearing interest at short-term rates. Currently, these securities consist of auction-rate securities and variable -rate demand obligations. The SHORT subscription fee will rise to $11,000 from $10,000.
The information provided from these services to the EMMA website will continue to be made available to the public without charge, the MSRB said in a release. The MSRB has not increased the RTRS or comprehensive subscription fees since January 2011, according to the board's filing with the SEC. The cost of the SHORT system subscription has not increased since 2010. Currently, the RTRS service generates about $540,000 annually, the comprehensive service generates approximately $185,000, and the SHORT subscription service generates about $120,000 each year, the MSRB said.
The MSRB filing said these increased fees will still not likely cover the costs associated with the systems.
