WASHINGTON - Seven months after the Depository Trust Clearing Corp. delayed the roll-out of its New Issue Information Dissemination System in response to industry design complaints, the securities industry group helping to develop it is urging the Securities and Exchange Commission to give broker-dealers more time to learn how to use and test it because of the recent market turmoil.

Meanwhile, the nationally recognized repository DPC Data Inc. recently told the SEC that the Municipal Securities Rulemaking Board would be overstepping its bounds by developing the new Electronic Municipal Market Access, or EMMA, another huge project underway in the municipal market. The SEC disclosed the letter in a notice published in the Federal Register yesterday that approved an EMMA pilot, but requested additional comment.

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