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April 7, 2008
EMMA - Electronic Municipal Market Access System
"EMMA is a centralized on-line site to find key information about municipal securities, free of charge. The information on EMMA is presented in a manner specifically tailored for retail, non-professional investors who may not be experts in financial or investing matters. EMMA makes available official statements for most new offerings of municipal bonds, notes, 529 college savings plans and other municipal securities since 1990. EMMA also provides real-time access to prices at which bonds and notes are sold to or bought from customers, as well as prices paid in inter-dealer transactions, for most trades occurring on or after January 31, 2005. In addition, issuers sometimes issue new bonds to establish escrows to pay-off existing bonds (usually to refinance their debt at a lower interest rate), and EMMA provides access to advance refunding documents that set out the details of these escrow arrangements." [RJ]
April 7, 2008 in Electronic Resource | Permalink
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