MSRB NOTICE 2007-11 (MARCH 20, 2007)


The Municipal Securities Rulemaking Board (MSRB) will be hosting a forum on proposed rule changes described in MSRB Notice 2007-10 that are designed to improve transaction reporting of new issue municipal securities. 


I. Overview of MSRB Notice 2007-10

MSRB staff will present the proposed rule changes described in MSRB Notice 2007-10 and be available for questions. 

II. Draft Amendments to Rule G-34 – CUSIP Numbers and NIIDS

The proposed rule changes include draft amendments to Rule G-34, on CUSIP Numbers and New Issue Requirements, that would require underwriters of new issues to apply for CUSIP number assignment through the CUSIP Service Bureau earlier than is currently required and to submit certain information about the new issue to the Depository Trust and Clearing Corporation’s (DTCC) planned New Issue Information Dissemination Service (NIIDS) for re-dissemination to market participants.  Representatives of DTCC and the CUSIP Service Bureau will make presentations on NIIDS and CUSIP application procedures.

III. Proposed CTC Special Condition Indicator

The proposed rule changes also include changes to Rule G-14, on transaction reporting, that would require all dealers that transact in a new issue to identify certain new issue transactions called “Conditional Trading Commitments” with a special indicator.  This indicator was initially proposed for comment in April 2006.  MSRB staff will present the comments received on the April 2006 proposal, modifications to the indicator in the current proposal and other measures that might improve price transparency of transactions in new issues of municipal securities.


            DATE:             April 11, 2007

            TIME:              2:00 – 5:00 P.M. (EST)

            PLACE:           New York Marriott Marquis
                                 1535 Broadway
                                 New York, NY 10036


Dealers interested in attending the forum should contact the MSRB.  There is no fee to attend, however, preregistration by individual is required.  Attendance is available on a first come basis and may be limited to 2 persons per firm depending on space limitations.  The forum will begin promptly at 2:00 P.M. 

To register, click here to view and print the registration form.  Complete the form and fax to:

Tina Hanachi, fax: 703-797-6703

Questions about the forum may be directed to Justin R. Pica, Uniform Practice Policy Advisor, or Sara K. Pranio, Uniform Practice Assistant.

March 20, 2007