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


MUNICIPAL SECURITIES RULEMAKING BOARD RECEIVES
 AWARD FROM MUNICIPAL ANALYSTS GROUP

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) has been presented with the National Federation of Municipal Analysts’ 2010 Industry Contribution Award in recognition of its development and operation of the Electronic Municipal Market Access (EMMA) website. MSRB Executive Director Lynnette Kelly Hotchkiss accepted the award on behalf of the MSRB at the NMFA’s 27th Annual Conference in New Mexico on May 6. 

The NFMA, which represents municipal credit analysts, annually recognizes extraordinary contributions to the municipal bond industry. Its award recognized  the MSRB’s contributions to improved timeliness and quality of disclosure in the municipal market through the creation of EMMA.

MSRB Chair Peter T. Clarke said, “The NFMA represents an important market constituency and its acknowledgment confirms the extent to which it values the improved access to municipal disclosure that EMMA provides. The MSRB has gained respect throughout the municipal market for its leadership role and we are extremely grateful for this recognition.”

EMMA is a centralized online database that provides free public access to official disclosure documents associated with municipal bonds issued in the United States. EMMA also provides real-time trade data for approximately 1.2 million outstanding municipal bonds and current interest rates for auction rate securities and variable rate demand obligations.  EMMA provides transparency of information for investors in this important financial market and makes it easy — and free — for them to access bond disclosures and pricing data that can inform investment decisions.  Information available on EMMA includes snapshots of daily trade data based on security size, sector, maturity and source of repayment, educational material about bonds and their associated documents, and a comprehensive glossary of municipal bond terms.

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. 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. 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. MSRB is overseen by the Securities and Exchange Commission and Congress.

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