WASHINGTON - The Securities Industry and Financial Markets Association strongly supports the Municipal Securities Rulemaking Board's proposal to collect and publicly disseminate information about auction-rate securities and is urging the board to launch the site as soon as possible, even if the technology to capture the data is still under development.

"We believe it is very important to provide information to the market on the outcome of auctions, and SIFMA encourages the MSRB to establish a Web site for this purpose as soon as possible," Leslie Norwood, SIFMA managing director and associate general counsel, told the MSRB in a seven-page letter released yesterday. "The ability to access increased data on auction rate securities is extremely useful for market participants, especially in the current period of market dislocation."

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