The Municipal Securities Rulemaking Board implemented several enhancements that will make it easier for market participants to submit continuing disclosure documents to its EMMA system.
The changes, which were implemented late Friday in response to user requests, include an easier method for making a new filing using securities from a past filing. Under the new feature, when a filing is published by the Electronic Municipal Market Access system, the securities in it become "associated securities" and are available for use in future filings.
The changes also include a new search function to find Cusip numbers by issuer or a state. Specifically, the feature allows EMMA submitters to search for the so-called Cusip-6, or first six characters of a Cusip that uniquely identify an issuer, if they do not know it. This search feature is designed to help users find the issuers' correct Cusip and apply them to a current filing, the board said. Filers can narrow their searches by entering a combination of issuer name and state.
Finally, the MSRB has added a "bulk upload" feature that will allow issuers, obligors, and agents to quickly upload up to 6,000 "9-digit Cusips." This filing method is separate from the existing "Cusip-9 based" submission method for individual securities and should not be used in conjunction with the same filing, the board said.
