MSRB makes electronic trade alerts available, advances EMMA data

By Jennifer Chiou

New York, Feb. 29 - The Municipal Securities Rulemaking Board announced enhanced access to trade information through electronic notifications for specific bond trades in the municipal market.

In addition, the MSRB said it made improvements to municipal market trading statistics provided on its on Electronic Municipal Market Access website.

According to a news release, the new trade alerts will provide an end-of-day email when a particular security trades and is published on EMMA for investors who subscribe.

This email includes a direct link to trade history on EMMA, which provides price information that can assist in the assessment of a security, the board noted.

MSRB said that EMMA already sends investors alerts when disclosure documents, such as ratings changes or financial statements, are filed by municipal securities issuers. Investors can now specify whether they want to receive financial- or event-based disclosures, or both.

"The ability for investors to receive notifications about individual bond transactions will bring a new level of transparency to the municipal market," MSRB executive director Lynnette Kelly said in the release.

"Automatic alerts about the price at which specific bond trades provides information investors can use in their decision-making."

Under the Market Statistics section of EMMA, users can now see additional graphical representations when viewing information related to overall municipal market trading activity, the amount traded by customers and dealers and the volume of trades for any given date range.

Questions may be directed to Jennifer A. Galloway at 703 797-6600.

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