MSRB DATA ARE AVAILABLE TO ALL WRDS ACADEMIC SUBSCRIBERS AT NO ADDITIONAL COST
The Municipal Securities Rulemaking Board’s (MSRB) municipal market trade data are available to support the study of recent and historical municipal securities price trends, trade frequency and other characteristics of municipal bond transactions.
As the primary regulator of the $3.7 trillion municipal securities market, the MSRB collects and makes trades publicly available through its Electronic Municipal Market Access (EMMA®) website.
The trades represent transactions by investors and dealers in the over-the-counter market for municipal securities issued by municipal entities, including states, counties, cities, special tax districts, and other municipalities.
• Identify the date and time of every municipal securities trade, including settlement and maturity dates
• Obtain description of each security—the name of the issuer, unique identifier, etc.
• Access the price, yield and interest rate of the security
• Identify principal amount of the bonds traded
• Coverage from 2005
RESEARCH WITH MSRB
Municipal Bond Liquidity, L. Harris (University of Southern California), M. Piwowar (Government of the United States of America)
Price Discovery in Illiquid Markets: Do Financial Asset Prices Rise Faster Than They Fall?, R. Green (Carnegie Mellon University), D. Li (Federal Reserve Board), N. Schurhof (University of Lausanne; Swiss Finance Institute)
The Muni Bond Spread: Credit, Liquidity, and Tax, A. Ang (Columbia Business School; National Bureau of Economic Research), V. Bhansali (Pacific Investment Management Company), Y. Xing (Rice University)
ABOUT THE MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB)
The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a Congressionally-chartered, self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is subject to oversight by the Securities and Exchange Commission.