Electronic Municipal Market Access (EMMA)
What is Electronic Municipal Market Access (EMMA)?
The Electronic Municipal Market Access (EMMA) service is a website made to give data about municipal bonds, bond prices, and market trends to the public.
Understanding Electronic Municipal Market Access (EMMA)
EMMA was made by the Municipal Securities Rule-production Board (MSRB), a self-administrative organization made by the U.S. Congress to advance a fair and efficient municipal securities market. Individual and professional investors can utilize EMMA to find data about the issuers of municipal bonds, past bond trading history, prices, and disclosure reports. The EMMA website incorporates devices to look for municipal bonds, schedules of applicable economic declarations and impending bond offerings.
Dissimilar to normalized securities like stocks, futures, or U.S. Treasuries, the funding wellsprings of municipal bonds can differ altogether. For instance, a few municipal bonds are reimbursed from the revenue received from a city or state infrastructure project that is being financed (revenue bonds) while others are to be reimbursed from tax revenues as a general obligation bond.
Since each municipal bond has various yields, conditions, and credit ratings, matching the right bond with the right investor can challenge. EMMA's instruments and research permit investors to look for municipal bonds with an income profile and terms that are suitable for their unique portfolios. The EMMA website is free to access, yet requires a lot of foundation information on the bond market to effectively utilize.
EMMA Search Tools
Investors can utilize the inquiry devices on EMMA to filter for municipal bond qualities, for example, yield, terms, security or credit rating. A bond investor could likewise search for bond data by issuer or region.
Since bond disclosures and filings can change, investors can utilize the EMMA search devices to narrow the rundown to the type of disclosure they need. For instance, an investor could search for bonds with a disclosure connected with non-installment related defaults or an unscheduled draw on the off chance that they are seeking distressed bonds.
EMMA Market Analysis
The EMMA website incorporates yield curve devices that can be utilized to assess the current municipal bond market and historical trends. Numerous investors utilize this sort of data to assist them with choosing when to make an investment.
Investors can utilize trade statistics from EMMA to think about current market activity in contrast to historical periods. This might assist a client with understanding how much trading is happening in a specific issue and distinguish the most liquid issues. Data about the types of bond traders (for example inter-dealer versus customer) and the total dollar value of every day's trades might influence what a bond investor is buying or selling, and when they need to execute their own trades.
EMMA Education
While the data the MSRB gives through the EMMA website is possible generally valuable to professional or experienced municipal bond investors, there is education accessible to all users. Another bond investor can investigate the nuts and bolts of municipal bond investing including how they are priced, traded, and the special risks of these instruments.
Features
- Electronic Municipal Market Access (EMMA) service is a website made to give data about municipal bonds, bond prices, and market trends to the public.
- EMMA was made by the Municipal Securities Rule-production Board (MSRB), a self-administrative organization made by the U.S. Congress to advance a fair and efficient municipal securities market.
- EMMA's devices and research permit investors to look for municipal bonds with an income profile and terms that are suitable for their unique portfolios.
