On August 17th, the SEC provided notice of the Municipal Securities Rulemaking Board's proposal to establish a subscription to the information collected by the MSRB's Short-term Obligation Rate Transparency System. The SHORT System is a facility of the MSRB for the collection and dissemination of information about securities bearing interest at short-term rates. Currently, these securities consist of Auction Rate Securities and Variable Rate Demand Obligations. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of August 23rd. SEC Release No. 34-62734.