MSRB NOTICE 2008-25 (MAY 28, 2008)

SIFMA, MSRB AND DTCC TO HOLD "FINAL PREPARATIONS FOR NIIDS MANDATED TESTING AND IMPLEMENTATION" SEMINARS IN DALLAS, CHICAGO AND NEW YORK

In June, the Securities Industry and Financial Markets Association (SIFMA) will host three seminars with representatives from the Municipal Securities Rulemaking Board (MSRB) and the Depository Trust and Clearing Corporation (DTCC) to discuss testing and implementation of DTCC’s New Issue Information Dissemination System (NIIDS).  The seminars aim to educate the municipal bond community about the new requirement for underwriter participation with NIIDS, which becomes effective September 30, 2008.[1] 

At seminars to be held in Dallas, Chicago and New York, SIFMA will provide an update on recent NIIDS developments, current NIIDS testing statistics and a member perspective of the testing process.  MSRB will follow with a presentation on rule changes to improve transaction reporting with a specific emphasis on the proposed rule for mandated NIIDS testing by underwriters.[2]  DTCC will discuss the NIIDS testing schedule with a detailed focus on educating and providing guidelines meant to help firms accomplish successful testing status.  These seminars will be interactive, and active participation will be encouraged. 

The seminars are open to all members of the municipal securities community.  There is no charge for attending; however, pre-registration is required. 

Please visit the event website to register:  http://www.sifma.org/NIIDS2008

Dallas

Date:               Thursday, June 12, 2008
Time:               9:30 a.m. to 12:30 p.m.
                        Grand Hyatt DFW
                        2337 South International Parkway
                        DFW Airport, TX

Chicago

Date:              Wednesday, June 18, 2008
Time:              9:30 a.m. to 12:30 p.m.
Location:        Griffin, Kubik, Stephens & Thompson, Inc. 
                       300 Sears Tower, 233 South Wacker Drive
                       Chicago, IL 60606

New York 

Date:               Tuesday, June 24, 2008
Time:               9:30 a.m. to 12:30 p.m.
Location:         SIFMA - Global Financial Markets Conference Center
                        360 Madison Avenue (at 45th Street)
                        New York, NY

Questions about the seminar may be directed to John Fitzgerald, SIFMA Consultant at jfitzgerald@sifma.org and Dawson Her Many Horses, Regulatory Analyst at dhmh@sifma.org.  Questions about MSRB rules to require underwriter participation with NIIDS may be directed to Justin Pica, Uniform Practice Policy Advisor, at 703-797-6716 or Sara Pranio, Uniform Practice Assistant, at 703-797-6714.

May 28, 2008


[1] See SEC Approves Rule Changes to Require Underwriter Participation with DTCC’s NIIDS System, MSRB Notice 2008-22 (May 2, 2008).

[2] See Notice of Filing of Proposed Rule Change to Require Underwriter Registration and Testing with DTCC’s NIIDS System, MSRB Notice 2008-23 (May 9, 2008).