The MSRB's Electronic Municipal Market Access (EMMA®) website provides access to municipal trade data and disclosure documents associated with municipal bond issues. These materials are available at no charge on our EMMA website or on a subscription basis in real-time for a fee. Municipal market trade data are available at no cost to academic researchers. The MSRB has established a Data Access Fee Policy regarding the provision of free and compensated information products and services.
Download the MSRB Subscription Services Price List to learn more about our subscription services and their rates. You may also learn about any of our subscription services by clicking on the links below:
- MSRB Transaction Subscription Service: All municipal trade data reported to the MSRB by municipal securities dealers. Subscriptions to periodic reports are also available.
- MSRB Short-term Obligation Subscription Service: All variable rate securities data and documents.
- MSRB Primary Market Subscription Service: All primary market disclosure documents and related information provided by municipal bond dealers.
- MSRB Continuing Disclosure Subscription Service: All continuing disclosure documents and related information.
To subscribe to an MSRB service:
The MSRB offers Data subscription services and Historical data products. Please follow the instructions below to subscribe to the services which you are interested in.
- Subscription Service Price List
- Subscription Service Agreement
- CUSIP Global Services License Verification Form
- Historical Data Purchase Agreement and Order Form
- Academic Historical Transaction Data Product Agreement
- Service Usage Report
Data Subscription Services:
- To subscribe to an MSRB Subscription Service(s), please go to the MSRB Subscription Service portal.
- Once you have entered the required information, you must complete, sign, and upload the Subscription Agreement to complete your request.
Refer to the Instructions for MSRB Subscriber Account Self Service for guidance on how to navigate the MSRB Subscription Service portal and submit your request to purchase subscription services.
Historical Data Product and Academic Historical Transaction Data Product:
- Complete the order form for the product you would like:
- Historical Data Product Purchase Agreement and Order Form.
- Academic Historical Transaction Data Product Agreement (including Attachments A and B thereto; and Attachment C if applicable). This must be signed on behalf of the academic institution.
- Complete the CUSIP Global Services License Verification Form to provide the MSRB with verification of the appropriate license from CUSIP Global Services.
- Send completed/signed documents to the MSRB by email to MSRBSupport@msrb.org