MSRB Makes Trade Alerts Available and Enhances EMMA Market Statistics

Date: February 29, 2012

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


Alexandria, VA The Municipal Securities Rulemaking Board (MSRB) today announced that investors and others now have the ability to be notified electronically when a specific bond trades in the municipal market. The MSRB also today made improvements to municipal market trading statistics provided on its on Electronic Municipal Market Access (EMMA®) website.

The MSRB is a self-regulatory entity with primary responsibility for rulemaking in the municipal securities market. It operates the EMMA website as the primary vehicle for disseminating market data and disclosures in support of its mission to promote a free and fair municipal market.

For investors who subscribe, the new trade alerts will provide an end-of-day email when a particular security trades and is published on EMMA. This email includes a direct link to trade history on EMMA which provides price information that can assist in the assessment of a security. EMMA already sends investors alerts when disclosure documents such as ratings changes or financial statements are filed with the MSRB by municipal securities issuers. Investors can now specify whether they want to receive financial- or event-based disclosures, or both.

“The ability for investors to receive notifications about individual bond transactions will bring a new level of transparency to the municipal market,” said MSRB Executive Director Lynnette Kelly. “Automatic alerts about the price at which specific bonds trade provides information investors can use in their decision-making.”

The MSRB has also enhanced the Market Statistics section of the EMMA website. EMMA users can now see additional graphical representations when viewing information related to overall municipal market trading activity, the amount traded by customers and dealers, and the volume of trades for any given date range. View EMMA Market Statistics.

Earlier this week, the MSRB week launched a mobile version of the EMMA website that optimizes certain elements of the site for display on mobile devices. The mobile version of EMMA improves the ability of investors receiving EMMA email alerts on a mobile device to view the trades or documents as soon as the alert is received.

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.