We calculate an effective action and measure induced by the integratio
n over the auxiliary field in the matrix model recently proposed to de
scribe IIB superstrings. It is shown that the measure of integration o
ver the auxiliary matrix is uniquely determined by locality and repara
metrization invariance of the resulting effective action. The large-N
limit of the induced measure for string coordinates is discussed in de
tail. It is found to be ultralocal and, thus, is possibly irrelevant i
n the continuum limit. The model of the GKM type is considered in rela
tion to the effective action problem.