MSRB Publishes New Quarterly Municipal Market Statistics

Date: May 12, 2011

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


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today released for the first time market statistics that include first quarter 2011 trading data and other figures for the $2.9 trillion municipal bond market. The new statistics can be downloaded for review and analysis. 

The first quarter statistical summaries include aggregate market information and cover different types of municipal issues and trades. The data also contain the number of interest rate resets for variable rate demand obligations and auction rate securities, as well as the statistics related to continuing disclosure documents received through the MSRB’s Electronic Municipal Market Access (EMMA) website during the first quarter.

"The MSRB hopes that these new timely updates to its annual Fact Book will benefit municipal market participants interested in trading, interest rate and disclosure patterns," said Marcelo Vieira, MSRB's Director of Research.

Among the first quarter 2011 highlights: 

  • The par amount traded in the municipal securities market in the first quarter of 2011 totaled $842,088 million, down nearly 8 percent from the $915,207 million traded in the same period last year.
  • Total number of trades of municipal securities during the first quarter of 2011 increased to 2.95 million, compared to 2.55 million trades in the first quarter of 2010. 
  • During the first quarter, the volume of customer purchases of trades of $100,000 or less increased to $570.3 million from $535.4 million in first quarter of 2010. 
  • The number of continuing disclosure documents received by the MSRB during the first quarter of 2011 rose 13.2 percent to 37,088 from 32,761 documents in the first quarter of 2010.

The MSRB’s market information transparency programs promote transparency and access to real-time, municipal market bond information. The MSRB makes this information available free of charge on its EMMA website. Daily and historical summaries of trade data based on security type, size, sector, maturity, source of repayment and coupon type are housed in EMMA’s Market Statistics section.

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.