The Municipal Securities Rulemaking Board expects to obtain approval from the Securities and Exchange Commission soon to launch a pilot of EMMA, its new Electronic Municipal Market Access system, on March 31, so that market participants can begin freely accessing official statements, advance refunding documents, and trade data.

The MSRB submitted a filing to the SEC Friday seeking approval of the startup of the pilot, which initially will just test market participants' ability to access documents and data for free via a new EMMA Web site. The filing amends the proposal the board filed with the commission in November on the pilot program.

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