3.3.3. Submitting information to EMMA
The Electronic Municipal Market Access (EMMA) system is an electronic database operated by the MSRB that provides free public access to official disclosure documents and trade data associated with municipal bonds. Whereas NIIDS supplies information to the depository agency, EMMA provides information to the general public.
EMMA requires much of the same information from the underwriter as NIIDS. EMMA has access to NIIDS, so any information the underwriter has already entered in NIIDS does not have to be entered again into EMMA. The issue’s CUSIP number, expected closing date, and prices/yields, as well as the underwriter’s confirmation that a continuing disclosure agreement has been completed by the issuer, must be submitted to EMMA, either via NIIDS or directly through EMMA’s Form G-32, before the Time of First Execution.
The underwriter must also submit the final official statement (FOS) to EMMA within one business day of receiving it. The same goes for any amendment made to the final official statement unt