MSRB Adds Features to EMMA Continuing Disclosure Service

Date: August 24, 2009

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


Alexandria, VA - The Municipal Securities Rulemaking Board (MSRB) announced today it has enhanced its Electronic Municipal Market Access (EMMA) website to make it easier to submit continuing disclosure documents.  The changes include a feature that automatically saves lists of securities so that future submissions can be easily and quickly applied to those securities.  In addition, users now also can search for securities directly from the EMMA submission screen and easily make a submission against a large number of securities - as many as 6,000.

The MSRB made the changes in response to EMMA user feedback and all submitters of continuing disclosure information, including municipal securities issuers and others, will benefit from the ease-of-use changes. Please click here to read about the enhancements to EMMA.

EMMA, which is a service of the MSRB, is the centralized, electronic repository for all municipal bond disclosure documents and trade data.  EMMA collects and makes available to investors 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.