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

MSRB RECOGNIZED FOR COMMITMENT TO MUNICIPAL MARKET DISCLOSURE

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) announced today it has received an award from the National Association of State Treasurers' State Debt Management Network in recognition of the MSRB's commitment to excellence in municipal market disclosure, including the MSRB's continued enhancements to its Electronic Municipal Market Access (EMMA) website. The award was presented to the MSRB by the Honorable Nancy Kopp, Maryland State Treasurer and NAST’s Legislative Committee Chair, at the association’s treasury management symposium in Atlanta on May 2. MSRB Director of Market Leadership, Ritta McLaughlin, accepted the award on behalf of the MSRB.

“EMMA is a work in progress, with the MSRB continuing to refine and expand the site’s capabilities, but already it is helping improve access to disclosure information for investors,” said Treasurer Kopp. “The members of NAST and SDMN appreciate this progress and want to commend the MSRB for its excellent work on EMMA.”

MSRB Executive Director Lynnette Kelly Hotchkiss said, “We are honored that such an important and influential organization in the municipal market has given the MSRB this recognition. We are as committed as ever to EMMA and the improvements it is making to municipal market disclosure and are grateful for the support of NAST and SDMN.”

The SDMN is a professional organization of issuers and managers of state debt that brings together public officials from all branches of state government to share information on issuance, management and oversight of public debt. The SDMN was developed through an association with the National Association of State Treasurers. NAST promotes education and the exchange of ideas and develops standards of excellence and influences public policy for the benefit of the citizens of the states.

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 1.5 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. 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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