MSRB to Provide Municipal Market Trading Data to Academics Through Wharton Research Service

Date: April 25, 2016

Contact: Jennifer A. Galloway, Chief Communications Officer 



Washington, DC – The Municipal Securities Rulemaking Board (MSRB) today announced that it is making trading data on the $3.7 trillion U.S. municipal bond market freely available to academic institutions through Wharton Research Data Services (WRDS), a research platform that provides financial and economic data to more than 400 institutions around the world. The partnership with WRDS supports the MSRB’s goal of advancing academic research in the municipal market.

“The MSRB is excited to be working with WRDS to make this data available to universities and other institutions in a way that fosters academic research,” said MSRB Executive Director Lynnette Kelly. “We support and encourage independent research that advances understanding of the municipal market and informs policymakers.”

Robert Zarazowski, Managing Director of WRDS, said, “Advancing knowledge and helping clients quickly and easily obtain the data they need to perform ground-breaking research is what we do. We are pleased that the MSRB’s database of municipal trade data has joined the WRDS data sets.”

The MSRB is the regulator of the municipal securities market and the official source of data and information about municipal bonds. The MSRB makes market information publicly available through its Electronic Municipal Market Access (EMMA®) website and subscription-based data feeds. WRDS will deliver MSRB trade data in a format designed specifically for researchers.

The addition of MSRB trade data to WRDS allows researchers to easily access and analyze the more than 40,000 trades executed daily in the municipal bond market. Researchers will be able to study statistical trends and patterns in the data to inform public policy and municipal finance.

About the MSRB
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 Congressionally-chartered, 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 subject to oversight by the Securities and Exchange Commission.

About WRDS
Wharton Research Data Services (WRDS) is the award-winning research platform and business intelligence tool for over 40,000 corporate, academic, and government users at 400+ institutions in 30+ countries. WRDS provides the user with access to data across multiple disciplines including Accounting, Banking, Economics, ESG, Finance, Healthcare, Insurance, Marketing, and Statistics. WRDS, backed by the credibility and leadership of the Wharton School, is trusted by leading universities around the world for thought leadership and insights that accelerate impactful research and enhance learning.