WASHINGTON - The Securities and Exchange Commission has approved Municipal Securities Rulemaking Board rule changes that will require underwriters on Sept. 30 to begin participating in a new system designed to increase the timeliness and accuracy of information dealers report about new issues of muni bonds.

The New Issue Information Dissemination System, or NIIDS, which will be operated by the Depository Trust and Clearing Corp., will collect information about new muni bonds from underwriters, or their intermediaries, and then electronically disseminate it in a uniform manner on a near real-time basis to information vendors and other market participants.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.