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

MSRB PUBLISHES NEW QUARTERLY MUNICIPAL MARKET STATISTICS  

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today released market statistics for third quarter 2011 trading data and other figures for the $3.7 trillion municipal bond market. The third quarter statistics can be downloaded for review and analysis. Statistics for the first and second quarters of 2011 can be found here.

Among the third quarter 2011 highlights:

  • Par amount traded in the municipal securities market in 2011:Q3 totaled $851,356 million, the highest quarterly volume in 2011; however, this was 8.5% lower than the $930,707 million in the same period one year ago.
  • A revenue anticipation bond from the State of California was the most active in the quarter with $10,819 million in par traded and 6,408 trades.
  • Customer buying activity decreased to an average daily par amount of $6,859.5 million in 2011:Q3, compared to $7,549.6 million in the same period last year.
  • The number of variable rate demand obligations rate resets totaled 221,341 in 2011:Q3, down 11.8% from the 250,929 rate resets in 2010:Q3.
  • The number of continuing disclosure documents received by the MSRB totaled 25,463 in 2011:Q3, up 3% from the 24,727 documents submitted in the same period of 2010.

All quarterly statistical summaries include aggregate market information for different types of municipal issues and trades, and the number of interest rate resets for variable rate demand obligations and auction rate securities. The data also include statistics related to continuing disclosure documents received through the MSRB’s Electronic Municipal Market Access (EMMA) website.

The MSRB’s market information transparency programs promote transparency and access to real-time, municipal market bond information. The MSRB makes this information available free of charge on its EMMA website. Daily and historical summaries of trade data based on security type, size, sector, maturity, source of repayment and coupon type are housed in EMMA’s Market Statistics section.

The Municipal Securities Rulemaking Board (MSRB) protects and strengthens the municipal bond market, enabling access to capital, economic growth, and societal progress in tens of thousands of communities across the country. The MSRB fulfills this mission by creating trust in our market through informed regulation of dealers and municipal advisors that protects investors, issuers and the public interest; building technology systems that power our market and provide transparency for issuers, institutions, and the investing public; and serving as the steward of market data that empowers better decisions and fuels innovation for the future. The MSRB is a self-regulatory organization governed by a 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.

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