Long-Term Vision for EMMA
Promoting transparency in the municipal securities market is part of the mission of the Municipal Securities Rulemaking Board (MSRB). Our Electronic Municipal Market Access (EMMA®) website is designed to support a transparent market and serve the evolving information and decision-making needs of market participants and the public. EMMA provides free data, disclosures and interactive tools that promote a fair and efficient municipal securities market. Enhancing the availability of pricing-related market data by creating a Central Transparency Platform (CTP) on EMMA and helping market participants comply with regulatory obligations are future-state goals.
EMMA Guiding Principles
- Promote fair municipal security transactions and support investment and issuance decisions by making comprehensive pricing and disclosure information readily available at no cost;
- Facilitate efficient access to and submission of municipal market data, disclosures and information through an interface that is intuitive and dynamic;
- Prioritize potential enhancements based on the public interest, cost, benefit, and size of target audience; and
- Ensure that data storage and delivery are reliable and secure without sacrificing availability.