EMMA Labs, the MSRB’s free innovation sandbox for transparency enhancements to the municipal securities market, has three Active Labs: The first is a keyword search engine leveraging natural language processing, machine learning and artificial intelligence to unlock the information contained within the hundreds of thousands of disclosure documents submitted to EMMA as unstructured PDFs. Next is a dynamic dashboard for market data analysis that empowers users to discover and visualize market trends. The third is an educational lab to demystify structured data and illustrate its potential in the municipal market. An additional Idea Labs section provides a forum for users to submit and provide feedback on ideas for potential future Active Labs.
EMMA Labs is already enabling deeper market insights. The advanced search prototype provided a window into how states and municipalities are grappling with the impact of the novel Coronavirus Disease (COVID-19) on their revenues and ability to finance essential public services.