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MSRB Publishes EMMA Guide for State and Local Governments

April 15, 2013
The Municipal Securities Rulemaking Board (MSRB) today published an introductory guide to EMMA for state and local government issuers of municipal bonds.
The online guide serves as an introduction to using the Electronic Municipal Market Access (EMMA®) website, and walks state and local governments through using the site to better evaluate their municipal financing options, communicate with investors and comply with disclosure rules.

The guide is a key addition to MSRB’s State and Local Government Toolkit, which now also includes Costs Associated with Issuing Municipal Securities, an explanation of the components of gross spread, and Using EMMA Trade Monitor to Evaluate Your Municipal Market Activity, which describes how municipal securities issuers can analyze secondary market trading activity for their bonds. 
Highlights of MSRB's State and Local Government Toolkit include:
  • Using the EMMA website;
  • Understanding continuing disclosure;
  • Using the EMMA Trade Monitor; and
  • Learning about municipal bond issuance.
MSRB also provides educational resources for investors in municipal securities. 
MSRB’s EMMA website is a centralized online database that provides free public access to more than 800,000 official disclosure documents and data on more than 70 million trades associated with municipal bonds issued in the United States. The EMMA website makes available real-time trade prices, primary market and continuing disclosure documents, and current credit ratings for more than one million outstanding securities, as well as current interest rate information, liquidity documents and other information for most variable rate municipal securities.
For questions about MSRB and the EMMA Guide, please contact Jennifer A. Galloway, chief communications officer, at (703) 797-6600.

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