Preliminary official statements may be obtained from your Financial Advisor. Please call today for a copy. Final official statements are now accessible through the Municipal Securities Rulemaking Board’s (MSRB) new electronic database, EMMA. Please see below for an introduction to EMMA (www.emma.msrb.org):
What is EMMA?
EMMA, the Electronic Municipal Market Access system, is a website (www.emma.msrb.org) that provides free public access to information about individual municipal securities, including official statements, continuing disclosures and real-time trade data. Investors can access and download for free all documents and data on EMMA, and also obtain educational information geared toward retail investors. EMMA is operated by the Municipal Securities Rulemaking Board, the regulatory agency that protects investors and ensures a fair and efficient municipal bond market.
Information Available on EMMA
• Official statements and advance refunding documents (Investors can still obtain a printed copy of an official statement by requesting it from their broker-dealer). • Continuing disclosures, including annual financial statements and notices of material events • Real-time and historical trade data • Interest rates and auction results for municipal auction rate securities • Interest rates for variable rate demand obligations • Daily market statistics and educational material about municipal bonds.
How to Find Official Statements and Continuing Disclosures on EMMA
The easiest way to search for an official statement or continuing disclosure document associated with a particular security on EMMA is to use the "Muni Search" tab and enter a CUSIP number—a unique 9-character identifier with numbers and letters, for example, "123456AAB." CUSIP numbers for an investor’s security appear on a trade confirmation or brokerage statement. Investors can also search for a particular security by entering the name of the bond issuer into EMMA’s "Muni Search" function or by entering other parameters such as issue description, state name, maturity date and date of issuance into EMMA’s "Advanced Muni Search" function. However searching by a CUSIP number produces the best results.
Learn More About EMMA
Go to EMMA’s home page and click on the video tutorial located in the lower-left corner of the page.