MSRB Enhances Bond Disclosure Alerts on EMMA

Date: April 23, 2010

Contact:            Jennifer A. Galloway, Chief Communications Officer
                        (703) 797-6600


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today announced an enhancement to the alert feature on its Electronic Municipal Market Access (EMMA) website that allows investors to easily sign up for an unlimited number of alerts on the availability of disclosures made for municipal securities.

Beginning today, EMMA users can set up a customized alerts dashboard and begin receiving e-mail alerts about newly available bond disclosure documents produced by municipal bond issuers throughout the life of a bond.  The MSRB collects and makes available on EMMA each day hundreds of these important documents, such as annual financial statements and changes in ratings.  The enhanced alert feature allows users to enter a list of securities for receiving alerts and provides a single interface for managing this list. This replaces the earlier process that required users to manage alerts by going to individual pages on EMMA.

With the alerts feature, investors and others who track particular securities -- identified by their unique “CUSIP” numbers -- receive an e-mail notification from EMMA every time a new disclosure document is posted for that security.  The “Alerts” link in the upper-right corner of every page on EMMA provides the ability to set up a personalized dashboard. Read more about e-mail alerts on EMMA.

EMMA houses hundreds of thousands of municipal bond offering documents, the prices of millions of municipal trades, as well as interest rates and auction results for auction rate securities, interest rates for variable rate demand obligations, daily market statistics and educational material about municipal bonds.

The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.