MSRB Receives Award from Municipal Analysts Group

Date: May 12, 2010

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


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) has been presented with the National Federation of Municipal Analysts’ 2010 Industry Contribution Award in recognition of its development and operation of the Electronic Municipal Market Access (EMMA) website. MSRB Executive Director Lynnette Kelly Hotchkiss accepted the award on behalf of the MSRB at the NMFA’s 27th Annual Conference in New Mexico on May 6. 

The NFMA, which represents municipal credit analysts, annually recognizes extraordinary contributions to the municipal bond industry. Its award recognized  the MSRB’s contributions to improved timeliness and quality of disclosure in the municipal market through the creation of EMMA.

MSRB Chair Peter T. Clarke said, “The NFMA represents an important market constituency and its acknowledgment confirms the extent to which it values the improved access to municipal disclosure that EMMA provides. The MSRB has gained respect throughout the municipal market for its leadership role and we are extremely grateful for this recognition.”

EMMA is a centralized online database that provides free public access to official disclosure documents associated with municipal bonds issued in the United States. EMMA also provides real-time trade data for approximately 1.2 million outstanding municipal bonds and current interest rates for auction rate securities and variable rate demand obligations.  EMMA provides transparency of information for investors in this important financial market and makes it easy — and free — for them to access bond disclosures and pricing data that can inform investment decisions.  Information available on EMMA includes snapshots of daily trade data based on security size, sector, maturity and source of repayment, educational material about bonds and their associated documents, and a comprehensive glossary of municipal bond terms.

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.