An individual (faculty, staff or student) who uses EMMA (for non-commercial activities) in connection with conducting research in, or to support academic activities related to, the municipal securities market.
A professional who uses EMMA in connection with trading municipal securities for the account of a broker-dealer/municipal securities dealer, including a broker's broker, and/or selling and buying municipal securities to/from customers.
A data vendor, information service provider or other professional that uses EMMA in connection with redistributing or repackaging, in whole or in part, MSRB data or services.
A professional investor (any person or entity with total assets of at least $50 million, including a bank, savings and loan association, insurance company, investment adviser, registered investment company or other pooled investment vehicle) who uses EMMA to obtain information about the municipal securities market.
An individual who is not otherwise a professional user and that uses EMMA for his/her personal use to obtain knowledge about the municipal securities market.
Issuer or Obligated Person:
A representative of a state or local government entity, or a party having an obligation to make payments on municipal securities, who uses EMMA to manage or facilitate disclosure and/or payment obligations related to a municipal security.
A professional who uses EMMA to obtain information on the municipal securities market in connection with researching or reporting news, or other journalistic activities.
A professional who uses EMMA in connection with providing advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products, including advice on the timing, structure and/or pricing of offerings, or in undertaking a solicitation of a municipal entity.
A professional who uses EMMA in the conduct of its business not otherwise described above. Examples include professionals at a non-broker-dealer alternative trading system, regulator, law firm or disclosure agent/submitter.