The Securities Industry and Financial Markets Association said in a comment letter this week that it supports a proposal by the Municipal Securities Rulemaking Board to develop a centralized system for the collection and dissemination of critical market information about variable-rate demand obligations that would increase the amount of data available to market participants.

Under the proposal, remarketing agents would submit information about VRDOs to the MSRB through the board's Real-Time Transaction Reporting system, or a newly created system, by the end of the day that the interest rate is reset. The MSRB tentatively plans to display the information through the board's Electronic Municipal Market Access, or EMMA, system.

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.