MSRB adds additional primary market data to EMMA

By Toni Weeks

San Luis Obispo, Calif., May 6 - The Municipal Securities Rulemaking Board announced it has added additional primary market data to its Electronic Municipal Market Access (EMMA) website.

According to a press release, EMMA will now display both the initial offering dollar price and yield for a bond when that data is available. These changes provide more meaningful primary market information to market participants about the initial offering price and will facilitate comparisons to trade data, which is normally displayed with both a dollar price and yield.

Market participants also can now view on EMMA the time of formal award and time of first execution for most new issues of municipal securities to further promote increased access to these events.

The time of formal award generally indicates when the bond purchase agreement was entered into between the issuer and the underwriter for negotiated sales or when the underwriter was awarded the deal on a competitive sale, the release noted, whereas the time of first execution generally reflects the time the underwriter plans to execute transactions in the new issue.

The new information on EMMA is provided by the New Issue Information Dissemination Services operated by the Depository Trust and Clearing Corp.

The MSRB, based in Alexandria, Va., works to promote a fair and efficient municipal market for investors, issuers, other municipal entities and the public.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.