Specifications for the MSRB Primary Market Subscription Service

Transcription

1 The Official Source for Municipal Disclosures and Market Data Specifications for the MSRB Primary Market Subscription Service Version 1.5, January 2013 Effective May

2 Revision History Version Date Revision History 1.0 June 2009 Initial version. 1.1 August 2010 Compiled into Single document; Added Figure 6: EMMA Primary Market Subscription Extended Services OVERVIEW, MESSAGE & TYPE DEFINITION SCHEMAS 1.2 November 2010 Data Message Issue Data Issuer or Obligated Persons reporting annual filing information XML Message Schemas Type Definition Schema Data Tag Glossary Obligated Person, Disclosure Filing Schedule Data Tag Mapping Obligated Person, Disclosure Filing Schedule Sample XML Messages Obligated Person, Disclosure Filing Schedule 1.3 May 2011 Updated the specifications manual with the specifications of the Preliminary Official Statement Web Service Interface 1.4 July 2011 Remove issue data, security types and effective date for 529 College Savings Plan and Other Municipal Fund Security from Figures 8, 9, and January 2013 See Figure 3, 4 and 5 Added field Formal Award Date Time Added field First Trade Execution Date Time Split field Initial Offering Price Yield o Initial Offering Price o Initial Offering Yield Municipal Securities Rulemaking Board 2

3 Table of Contents Introduction... 5 Background... 6 PART I: Specifications for the Primary Market Web Service Interface... 7 Primary Market Web Service Interface... 7 Beta Platform for Primary Market Web Service Interface... 8 Data and Document Feed Process... 9 Document Dissemination... 9 Message Processing, Schemas and Data Tags Data Message Figure 1: Message Processing Overview for the Primary Market Web Service Interface Figure 2: Data Message & Type Definition Schemas for the Primary Market Web Service Interface Figure 3: Date Tag Glossary for Primary Market Web Service Interface Figure 4: Data Tag Mapping for the Primary Market Web Service Interface Figure 6: Extended Services for the Primary Market Web Service Interface PART II: Specifications for the Preliminary Official Statement Web Service Interface Preliminary Official Statement Web Service Interface BETA Platform for Preliminary Official Statement Web Service Interface Data and Document Feed Process Message Processing, Schemas and Data Tags Data Message Figure 7: Message Processing Overview for the Preliminary Official Statement Web Service Interface Figure 8: XML Message Data Model for the Preliminary Official Statement Web Service Interface Figure 9: Data Tab Glossary for the Preliminary Official Statement Web Service Interface Figure 10: Sample XML Messages for the Preliminary Official Statement Web Service Interface Municipal Securities Rulemaking Board 3

4 Resources and Support MSRB Website: EMMA Website: MSRB Support Tel: Hours of Operation: 7:30 a.m. - 6:30 p.m. ET MSRBsupport@msrb.org Municipal Securities Rulemaking Board 1900 Duke Street, Suite 600 Alexandria, VA Tel: Fax: Municipal Securities Rulemaking Board 4

5 Introduction The Municipal Securities Rulemaking Board (MSRB) protects investors, issuers of municipal securities, entities whose credit stands behind municipal securities and public pension plans by promoting a fair and efficient municipal market. The MSRB fulfills this mission by regulating securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB promotes disclosure and market transparency through its Electronic Municipal Market Access (EMMA ) website, provides education and conducts extensive outreach. The MSRB has operated under Congressional mandate with oversight by the Securities and Exchange Commission since The EMMA website is a centralized online database operated by the MSRB that provides free public access to official disclosure documents and trade data associated with municipal bonds issued in the United States. In addition to current credit rating information, the EMMA website also makes available realtime trade prices and primary market and continuing disclosure documents for over one million outstanding municipal bonds, as well as current interest rate information, liquidity documents and other information for most variable rate municipal securities. This manual, Specifications for the EMMA Primary Market Subscription Service, has two parts. Part I contains specifications for the Primary Market Web Service Interface of the MSRB Primary Market Subscription Service. The Primary Market Web Service Interface is used to obtain real time, computer-to-computer dissemination of official statements, certain preliminary official statements and advance refunding documents submitted by underwriters under MSRB Rule G-32, as well as similar documents submitted voluntarily by issuers. Part II contains specifications for the Preliminary Official Statement Web Service Interface of the EMMA Primary Market Subscription Service. The Preliminary Official Statement Web Service Interface is used to obtain real-time, computer-tocomputer dissemination of preliminary official statements and related pre-sale documents, such as a notice of sale, submitted voluntarily by issuers. Municipal Securities Rulemaking Board 5

6 Background The MSRB Primary Market Subscription Service is available to paying subscribers subject to a subscription agreement entered into with the MSRB. Subscribers must conform to the terms and conditions of that agreement. In addition, to purchase a subscription it is necessary to provide the MSRB with verification of the appropriate license from CUSIP Global Services. More information about the subscription agreement and license verification are available at In June 2009, the MSRB created the Primary Market Web Service Interface, making available primary market documents and related information submitted by underwriters to the MSRB Primary Market Submission Service. In May 2011, the MSRB added the Preliminary Official Statement Web Service Interface. This new interface allows subscribers to obtain additional types of documents being submitted by issuers to the Primary Market Submission Service, including preliminary official statements and other pre-sale documents. The MSRB reserves the right to restrict or remove the access of subscribers when their use of the Primary Market Web Service Interface or Preliminary Official Statement Web Service Interface is endangering the integrity of EMMA and its systems. Municipal Securities Rulemaking Board 6

7 Part 1: Specifications for the Primary Market Web Service Interface Primary Market Web Service Interface The MSRB will expose two web service interfaces to allow subscribers to receive Simple Object Access Protocol (SOAP) standard extensible markup language (XML) messages and portable document format (PDF) documents using secure, computer-to-computer communications. These interfaces will be remotely consumed by applications written by or for subscribers in a wide variety of programming languages and running on a wide variety of platforms. The MSRB Primary Market Web Service Interface includes the following web user services for retrieval of data files: Initial Primary Market Web Service Interface effective June Includes Continue Disclosure Undertakings effective February 14, Includes Voluntary Official Statements effective May 23, NEW: Includes New Issue Information for Primary Market effective May Document Retrieval Service: V2.svc Municipal Securities Rulemaking Board 7

8 Beta Platform for Primary Market Web Service Interface Beta versions of the data and document web service interfaces are made available by the MSRB. These serve as a platform for potential subscribers to conduct tests to ensure proper programming and configuration of their applications for accessing the Primary Market Web Service Interface. Data and documents available through the beta platform are for test purposes only and are not to be re-disseminated or otherwise used by subscribers, other than for purposes of testing programming and configuration of subscription applications. Access to the beta platform site will require a separate set-up. To inquire about the procedures for accessing the beta platform site, contact MSRB Support at The web service interfaces for the beta platform are as follows: Beta platform for data files: Beta platform for document files: svc Municipal Securities Rulemaking Board 8

9 Data and Document Feed Process The Primary Market Web Service Interface will provide XML files of data and PDF files of primary market disclosure documents submitted to the EMMA Primary Market Submission service through both the EMMA public portal and the automated submission interface. Data File Dissemination Publicly disseminated information submitted to EMMA will normally be staged for subscriber access simultaneously with the posting of such publicly disseminated information to the EMMA web portal. Subscribers will poll the data file subscription web service, at a frequency to be determined by each subscriber, by issuing a data request to receive the next available data from continuing disclosure submissions, based on subscriber-determined parameters. Due to the anticipated volume and frequency of submissions, the MSRB recommends polling the subscription service not less frequently than once every 10 minutes and not more frequently than once per minute. EMMA will bundle into a single XML file data from up to 200 data submissions for transmission to subscribers. The XML file will include file reference identifiers for each PDF file for use by subscribers in polling the document file subscription web service and in associating them to the related data. Depending on the subscriber s polling parameters, subscribers will be able to access information through the Primary Market Web Service Interface on a real-time basis. Document Dissemination Documents submitted to EMMA typically will be available for subscriber access simultaneously with the posting of such documents to the EMMA web portal. Subscribers will issue document requests, at a frequency to be determined by each subscriber, to receive any available documents based on the file reference identifiers provided in the XML files disseminated to subscribers. Each document will be transmitted to subscribers as individual PDF files. Depending on the subscriber s parameters for issuing document requests, subscribers will be able to access documents through the Primary Market Web Service Interface on an effectively real-time basis, subject to transmission limitations resulting from the potentially large size of some document files and the speed of the subscriber s connection. Municipal Securities Rulemaking Board 9

10 Message Processing, Schemas and Data Tags This document refers to a series of figures and tables providing more detailed information about the Primary Market Web Service Interface. A message processing overview is included in Figure 1. An XML data schema and a type definition schema are included in Figure 2. A data tag glossary is provided in Figure 3. 1 Data Message Data elements to be disseminated through the Primary Market Web Service Interface will be organized in a hierarchical relationship into the following categories: (i) subscriber data; (ii) submission data; (iii) offering data; (iv) issue data; (v) security data; (vi) document data; (vii) file data; and (viii) limited offering contact data. These categories, and the available data tags applicable to each category, are included in Figure 4 and are also summarized below: subscriber data i. submission transaction count (indicates number of submissions in data message) ii. replay date (if data replay requested by subscriber, indicates period of data replay) submission data i. submission identifier (uniquely identifies submission being disseminated) ii. submission type (primary market disclosure, advance refunding disclosure) iii. submission status (publish, notice of cancellation of offering) iv. issuer submitted (indicates if data provided by an issuer) v. submission transaction date and time (indicates EMMA posting date and time) offering data i. offering type (bond, municipal fund security) ii. underwriting spread (if no underwriting spread disclosure indicator used) iii. underwriting spread disclosure indicator (if underwriting spread not provided disclosed in official statement, not disclosed for competitive sale) iv. OS availability status (as applicable indicates if official statement not available at closing, if no official statement is available and applicable exemption under Rule 15c2-12, if official statement available only from underwriter for limited offering under Rule 15c2-12) v. POS availability status (if OS availability status used indicates if preliminary official statement is available or is not available) vi. CUSIP-9 of latest maturity on issue not underwritten (provided only for offerings where different underwriters underwrite separate issues in the offering) 2 1 The descriptions of the submission data elements to be provided by submitters to EMMA as described in the MSRB Primary Market Submission Specifications provide more detailed information about the data elements to be disseminated to subscribers through the primary market subscription service. 2 Note that the MSRB has moved the CUSIP-9 of latest maturity on issue not underwritten from the issue data category (as included in the preliminary specifications) to the offering data category (as included in the final specifications). Municipal Securities Rulemaking Board 10

11 issue data (each element provided for each issue in the offering, as applicable) 3 i. issue type (new issue, remarketed, refunded) ii. security type (CUSIP-9, Non-CUSIP, commercial paper) 4 iii. issuer name (full name as entered by submitter) iv. issue description (full description as entered by submitter) v. issuer state vi. issue closing date vii. issue dated date viii. original dated date (for remarketings if CUSIP-9 is unchanged but new dated date is assigned) ix. formal award data time x. first trade execution time xi. original CUSIP-9 of remarketed security (provided only if new CUSIP-9 number assigned to a remarketed issue) xii. issuer or other obligated persons have agreed to undertake to provide Continuing Disclosure information as contemplated by Exchange Rule 15c2-12 (enter Yes or No) annual filing will be available on or about (enter Month and Day) or xiii. annual filing will be available on or about (enter count) of (select Days or Months) after fiscal year ending on (enter Month and Day) xiv. CUSIP-6 (provided only for commercial paper issue where CUSIP-9s not submitted to EMMA or for Non-CUSIP issues if CUSIP-6 of issuer is known) security data i. CUSIP-9 (as applicable for new issue or remarketed issue type not provided for municipal fund security issue type or Non-CUSIP or CUSIP-6 security type) ii. maturity date iii. security dated date (if different from issue dated date) iv. maturity principal amount v. interest rate vi. initial offering price or yield vii. initial offering price viii. ix. Initial offering yield security status (as applicable if underwriter is only underwriting a portion of an issue not underwritten indicates that this security is underwritten by a different underwriter, partially underwritten indicates that underwriter is underwriting a portion of this security and the remaining portion is underwritten by another underwriter) x. par value underwritten (if security is partially underwritten, represents portion of security underwritten by the underwriter) 5 3 Note that the MSRB has moved the CUSIP-9 of latest maturity on issue not underwritten from the issue data category (as included in the preliminary specifications) to the offering data category (as included in the final specifications). 4 Note that the MSRB has renamed the selection CUSIP-6, as was included in the preliminary specifications, to commercial paper, as set forth in the final specifications. 5 Note that the MSRB has renamed the data element Underwritten Indicator, as was included in the preliminary specifications, to Security Status, as set forth in the final specifications. Further, selection choices Underwritten, Remarketed, and Not Remarketed have been added to the final specifications. Municipal Securities Rulemaking Board 11

12 xi. original CUSIP-9 of refunded security (used only for refunded issue type not provided for Non-CUSIP or CUISP-6 security type xii. new CUSIP-9 of refunded security (used only for refunded issue type if new CUSIP-9 assigned for refunded portion of partially refunded security) xiii. new CUSIP-9 for unrefunded balance (used only for refunded issue type if new CUSIP-9 assigned for unrefunded balance of partially refunded security) document data (each element provided for each document associated with the submission, as applicable) 6 i. document identifier (uniquely identifies submission being disseminated) ii. document type (official statement, preliminary official statement, advance refunding document, remarketing supplement, municipal fund security disclosure document, municipal fund security disclosure document supplement) iii. document description iv. document status (current, archived, removed) 7 v. document posting date (date first file of document posted to public on EMMA) vi. document archive date (date document moved to EMMA archive) vii. document remove date (date document removed from EMMA) 8 viii. CUSIP-9 identifier of refunding issue (only for advance refunding document provided for each advance refunding issue applicable to such document) ix. original CUSIP-9 of refunded security (only for advance refunding document provided for each refunded security applicable to such advance refunding document) file data (each element provided for each file of a document, as applicable) i. file identifier (unique identifier for each PDF file of the document) ii. file order (as applicable if multiple files for the document are submitted) iii. file status (current, archived, removed) 9 iv. file posting date (date file posted to public on EMMA) v. file remove date (date file removed from EMMA) 10 limited offering contact (provided only if an official statement for an offering exempt from Rule 15c2-12(d)(1)(i) is produced but will not be submitted to EMMA) 6 Note that the MSRB has eliminated the document disclosure completion indicator and document posting operation indicator, which were included in the preliminary specifications, from the final specifications. 7 Selection choice Removed has been added to the final specifications. The document archive for each issue or security generally will contain all documents submitted to EMMA for public dissemination with respect to such issue or security. In addition to current documents posted on their respective Issue Detail or Security Detail page on the EMMA portal, the archive will sometimes include duplicate submissions of documents that may occur from time to time, as well as documents that may be superseded through subsequent amendatory submissions to EMMA. Such superseded documents will be moved from the current document list on the Issue Detail or Security Detail page to the archive list available to the public through the archive link appearing on such Issue Detail or Security Detail page. In very limited circumstances, a document may be removed altogether from EMMA, in which case the document status would be listed as removed. 8 Note that the MSRB has added the document remove date, which was not included in the preliminary specifications, to the final specifications. 9 Selection choice Removed has been added to the final specifications. See footnote Note that the MSRB has added the file remove date, which was not included in the preliminary specifications to the final specifications. Municipal Securities Rulemaking Board 12

13 i. OS contact organization name ii. OS contact first name iii. OS contact last name iv. OS contact title v. OS contact phone number vi. OS contact phone number extension vii. OS contact address viii. OS contact city ix. OS contact state x. OS contact zip code xi. OS contact address Several examples of XML files disseminating data submissions for various types of primary market disclosures and advance refunding disclosures are included in Figure 5. Municipal Securities Rulemaking Board 13

14 pdf Binary File (encoded in MTOM) WebServices Protocol Support File Identifier File Order File Status File Posting Date File Archive Date File Removal Date File Effective Date pdf Binary File (encoded in MTOM) Subscription Replay Transaction Message Subscription Transaction Replay Request Message (SOAP) (Header) WebServices Protocol Support (Body) SubmissionIdentifier PostingDate 1 to Many Subscription Data Message 1 to Many Submission Offering 1 to Many Issue 1 to Many Securities Limited Offering Contact Document 1 to Many File (SOAP Envelope) (Header) WebServices Protocol Support (Body) SubmissionTransactionCount ReplayDate SubmissionIdentifier SubmissionType SubmissionStatus SubmissionTransactionDateTime OfferingType OSAvailabilityStatus POSAvailabilityStatus UnderwriterSpread UnderwritingSpreadDisclosureIndicator CUSIP9OfLatestMaturityOnIssueNotUnder written IssueType SecurityType IssuerName IssueDescription IssuerState IssueClosingDate IssueDatedDate OriginalDatedDate CUSIP6 OriginalCUSIP9OfRemarketedSecurity FormalAwardDateTime FirstTradeExcecutionDateTime CUSIP9 MaturityDate SecurityDatedDate MaturityPrincipalAmount InitialOfferingPriceYield IInterestRate SecurityStatus ParValueUnderwritten OriginalCUSIP9OfRefundedSecurity NewCUSIP9OfRefundedSecurity NewCUSIP9OfUnrefundedBalance OSContactOrganizationName OSContactFirstName OSContactLastName OSContactTitle OSContactPhoneNumber OSContactPhoneNumberExtension OSContactAddress OSContactCity OSContactState OSContactZipCode OSContact Address DocumentIdentifier DocumentType DocumentDescription DocumentStatus DocumentPostingDate DocumentArchiveDate DocumentRemoveDate CUSIP9IdentifierOfRefundingIssue OriginalCUSIP9OfRefundedSecurity FileIdentifier FileOrder FileStatus FilePostingDate FileArchiveDate FileRemoveDate FilePostingOperationIndicator SOAP (Simple Object Access Protocol) - foundation layer of the web services protocol stack Specifications for the MSRB Primary Market Subscription Service Figure 1: Message Processing Overview for the Primary Market Web Service Interface MESSAGE PROCESSING OVERVIEW Primary Market Subscription Service Subscriber - Web Service Interface Request Messages (Method Calls) Response Messages Get Subscription Data Get Subscription Replay Data Get Single Transaction From Replay GetSubscription DataResponse GetSubscription ReplayDataRes ponse GetSingleTrans actionfromrepl ayresponse Subscription Data Message Get Transactions For Day GetDocumentFile (UserID Based GetDocumentFile (UserID Based GetDocumentFile (FileID, Certificate Based) SubscriptionRes ponsedocument Message Subscriber Document Message (SOAP) (Body) DocumentRetrievalService CertV2 DocumentRetrievalService V2 DocumentRetrievalService (deprecated) SubscriptionRes ponsedocument Message (w/indexing) Subscriber Document Message (SOAP) (Header) (Body) GetTransactionsFor DayResponse EMMA SubscriptionServices / PrimaryMarketSubscriptionService NOTE: GetSubscriptionReplay Data Method has been deprecated and is no longer functional. If the Method is called the following exception message will be returned: XML Data Processing Document Archive XML XML GetSubscriptionReplay Data Method for subscription services expired on <DATE> XML Data Processing Replay Archive XML File for Submission Transaction Date (ReplayDate=<Date>) XML Data Processing 200 Submission transactions (max) per XML Response Message FIFO. NOTE: Any remaining transaction messages on the queue would be retrieved by the Subscriber via subsequent method calls (GetSubscriptionData) Q Subscriber Queue Municipal Securities Rulemaking Board 14

15 Figure 2: Data Message & Type Definition Schemas for the Primary Market Web Service Interface DATA MESSAGE & TYPE DEFINITION SCHEMAS Subscriber Subscriber Data Message (Submission Types) SUBMISSION Primary Market Disclosure Advance Refunding Disclosure (Offering Types) Bond OFFERING Municipal Fund Security (Issue Types) ISSUE New Issue Remarketed Refunded (Security Types) CUSIP-9 Non-CUSIP Commercial Paper SECURITIES Security_1 Security_1 Security_1 (Document Types) DOCUMENT Official Statement (OS) Preliminary Official Statement (POS) Remarketing Supplement (RS) Advance Refunding Document (ARD) MFS Disclosure Document MFS Disclosure Document Supplement FILE File_1 File_1 File_1 File_1 File_1 File_1 Municipal Securities Rulemaking Board 15

16 XML MESSAGE SCHEMAS Detailed below are Data, Document and Type Definition schemas. The Data and Document schemas describe the base structural containers which in turn reference child-level containers and specifications described in the Type Definition schema. Data Message Schema <?xml version="1.0"?> <xs:schema xmlns:xs=" xmlns="emma-subscription-xml" targetnamespace="emma- SUBSCRIPTION-XML" elementformdefault="qualified" attributeformdefault="unqualified" version="1.0"> <xs:include schemalocation="c:\emma\emma_b2b\schema\primarymarket\subscription\emma_b2b_subscription_typedefinition_schema_v 15.xsd"/> <xs:element name="subscriptiondatamessage" type="subscriptiondatamessagetype"/> <!-- Type Definition starts --> <xs:complextype name="subscriptiondatamessagetype"> <xs:sequence> <xs:element name="submission" type="submissiondetailstype" maxoccurs="unbounded"/> </xs:sequence> <xs:attribute name="submissiontransactioncount" type="xs:integer"/> <xs:attribute name="replaydate" type="isodate"/> <xs:complextype name="submissiondetailstype"> <xs:sequence> <xs:element name="offering" type="offeringdetailstype" minoccurs="1" maxoccurs="1"/> <xs:element name="document" type="documentdetailstype" minoccurs="0" maxoccurs="unbounded"/> <xs:element name="osavailabilitycontactinformation" type="osavailabilitycontactinformationtype" minoccurs="0" maxoccurs="1"/> </xs:sequence> <xs:attribute name="submissionidentifier" type="max25text" use="required"/> <xs:attribute name="submissiontype" type="submissiontype" use="required"/> <xs:attribute name="submissionstatus" type="submissionstatustype"/> <xs:attribute name="issuersubmitted" type="tns:issuersubmittedstatustype"/> <xs:attribute name="submissiontransactiondatetime" type="isodatetime"/> </xs:schema> Municipal Securities Rulemaking Board 16

17 Document Message Schema <?xml version="1.0"?> <xs:schema xmlns:xs=" xmlns="emma-submission-xml" targetnamespace="emma-submission- XML" elementformdefault="qualified" attributeformdefault="unqualified" version="1.0"> <xs:include schemalocation=" "/> <xs:element name="subscriptiondocumentmessage" type="subscriptiondocumentmessagetype"/> <!-- Type Definition starts --> <xs:complextype name="subscriptiondocumentmessagetype"> <xs:sequence> <xs:element name="file" type="filedetailstype" minoccurs="1" maxoccurs="1"/> </xs:sequence> <!-- Type definition ends --> </xs:schema> Type Definition Schema <?xml version="1.0"?> <xs:schema xmlns:xs=" elementformdefault="qualified" attributeformdefault="unqualified" version="1.0"> <!-- Type Definition starts --> <xs:complextype name="offeringdetailstype"> <xs:sequence> <xs:element name="issue" type="issuestype" maxoccurs="unbounded"/> <xs:element name="cusip9oflatestmaturityonissuenotunderwritten" type="cusip9type" minoccurs="0" maxoccurs="unbounded"/> </xs:sequence> <xs:attribute name="offeringtype" type="offeringtype"/> <xs:attribute name="osavailabilitystatus" type="osavailabilitystatustype"/> <xs:attribute name="posavailabilitystatus" type="posavailabilitystatustype"/> <xs:attribute name="underwritingspreaddisclosureindicator" type="underwritingspreaddisclosureindicatortype"/> <xs:attribute name="underwritingspread" type="xs:float"/> <xs:complextype name="issuestype"> <xs:sequence> <xs:element name="originalcusip9ofremarketedsecurity" type="cusip9type" minoccurs="0" maxoccurs="unbounded"/> <xs:element name="obligatedpersonsforcontinuingdisclosurefiling" Municipal Securities Rulemaking Board 17

18 type="obligatedpersonsforcontinuingdisclosurefilingtype" minoccurs="0" maxoccurs="1"/> <xs:element name="underlyingsecurities" type="underlyingsecuritiestype" minoccurs="0" maxoccurs="1"/> </xs:sequence> <xs:attribute name="issubjecttocontinuingdisclosureagreement" type="issubjecttocontinuingdisclosureagreementtype"/> <xs:attribute name="issuetype" type="issuetype"/> <xs:attribute name="securitytype" type="securitytype"/> <xs:attribute name="issuedescription" type="max250text"/> <xs:attribute name="issuername" type="max250text"/> <xs:attribute name="issuerstate" type="statecode"/> <xs:attribute name="issueclosingdate" type="isodate"/> <xs:attribute name="issuedateddate" type="isodate"/> <xs:attribute name="originaldateddate" type="isodate"/> <xs:attribute name="cusip6" type="cusip6type"/> <xs:attribute name="formalawarddatetime" type="basicdatetime "/> <xs:attribute name="firsttradeexecutiondatetime" type="basicdatetime "/> <xs:complextype name="obligatedpersonsforcontinuingdisclosurefilingtype"> <xs:sequence> <xs:element name="obligatedperson" type="obligatedpersonstype" maxoccurs="unbounded"/> </xs:sequence> <xs:complextype name="obligatedpersonstype"> <xs:sequence> <xs:element name="disclosurefilingschedule" type="disclosurefilingscheduletype" minoccurs="0" maxoccurs="1"/> </xs:sequence> <xs:attribute name="obligatedpersontype" type="persontype"/> <xs:attribute name="nameofobligatedpersonforcontinuingdisclosurefiling" type="max250text"/> <xs:complextype name="disclosurefilingscheduletype"> <xs:attribute name="schedulebasisforfiling" type="scheduletypes"/> <xs:attribute name="calendaryearannualfilingmonth" type="monthtype"/> <xs:attribute name="calendaryearannualfilingday" type="xs:integer"/> <xs:attribute name="fiscalyearendmonth" type="monthtype"/> <xs:attribute name="fiscalyearendday" type="xs:integer"/> <xs:attribute name="monthordaycountafterfiscalyearendwhenfilingexpected" type="xs:integer"/> <xs:attribute name="monthordayafterfiscalyearendwhenfilingexpected" type="monthdaytype"/> <xs:complextype name="underlyingsecuritiestype"> Municipal Securities Rulemaking Board 18

19 <xs:sequence> <xs:element name="security" type="securitydetailstype" maxoccurs="unbounded"/> </xs:sequence> <xs:complextype name="securitydetailstype"> <xs:attribute name="cusip9" type="cusip9type"/> <xs:attribute name="maturitydate" type="isodate"/> <xs:attribute name="securitydateddate" type="isodate"/> <xs:attribute name="initialofferingpriceyield" type="xs:float"/> <xs:attribute name="initialofferingprice" type="xs:float"/> <xs:attribute name="initialofferingyield" type="xs:float"/> <xs:attribute name="maturityprincipalamount" type="xs:decimal"/> <xs:attribute name="interestrate" type="xs:decimal"/> <xs:attribute name="securitystatus" type="securitystatustype"/> <xs:attribute name="parvalueunderwritten" type="xs:decimal"/> <xs:attribute name="originalcusip9ofrefundedsecurity" type="cusip9type"/> <xs:attribute name="newcusip9ofunrefundedbalance" type="cusip9type"/> <xs:attribute name="newcusip9ofrefundedsecurity" type="cusip9type"/> <xs:simpletype name="issubjecttocontinuingdisclosureagreementtype"> <xs:enumeration value="yes"/> <xs:enumeration value="no"/> <xs:simpletype name="scheduletypes"> <xs:enumeration value="calendaryear"/> <xs:enumeration value="fiscalyearend"/> <xs:simpletype name="monthdaytype"> <xs:enumeration value="day"/> <xs:enumeration value="month"/> <xs:simpletype name="monthtype"> Municipal Securities Rulemaking Board 19

20 <xs:enumeration value="1"/> <xs:enumeration value="2"/> <xs:enumeration value="3"/> <xs:enumeration value="4"/> <xs:enumeration value="5"/> <xs:enumeration value="6"/> <xs:enumeration value="7"/> <xs:enumeration value="8"/> <xs:enumeration value="9"/> <xs:enumeration value="10"/> <xs:enumeration value="11"/> <xs:enumeration value="12"/> <xs:simpletype name="persontype"> <xs:enumeration value="issuer"/> <xs:enumeration value="other"/> <xs:complextype name="documentdetailstype"> <xs:sequence> <xs:element name="cusip9identifierofrefundingissue" type="cusip9type" minoccurs="0" maxoccurs="unbounded"/> <xs:element name="originalcusip9ofrefundedsecurity" type="cusip9type" minoccurs="0" maxoccurs="unbounded"/> <xs:element name="underlyingfiles" type="underlyingfilestype" maxoccurs="1"/> </xs:sequence> <xs:attribute name="documentidentifier" type="max25text"/> <xs:attribute name="documenttype" type="documenttype"/> <xs:attribute name="documentdescription" type="max75text"/> <xs:attribute name="documentstatus" type="documentstatustype"/> <xs:attribute name="documentpostingdate" type="isodate"/> <xs:attribute name="documentarchivedate" type="isodate"/> <xs:attribute name="documentremovedate" type="isodate"/> <xs:complextype name="underlyingfilestype"> <xs:sequence> <xs:element name="file" type="filedetailstype" minoccurs="0" maxoccurs="unbounded"/> Municipal Securities Rulemaking Board 20

21 </xs:sequence> <xs:complextype name="filedetailstype"> <xs:attribute name="fileidentifier" type="max25text"/> <xs:attribute name="fileorder" type="xs:integer"/> <xs:attribute name="effectivedate" type="isodate"/> <xs:attribute name="filestatus" type="documentstatustype"/> <xs:attribute name="filepostingdate" type="isodate"/> <xs:attribute name="filearchivedate" type="isodate"/> <xs:attribute name="fileremovedate" type="isodate"/> <xs:complextype name="osavailabilitycontactinformationtype"> <xs:attribute name="oscontactorganizationname" type="max140text"/> <xs:attribute name="oscontactfirstname" type="max25text"/> <xs:attribute name="oscontactlastname" type="max25text"/> <xs:attribute name="oscontacttitle" type="max140text"/> <xs:attribute name="oscontactphonenumber" type="max15text"/> <xs:attribute name="oscontactphonenumberextension" type="max6text"/> <xs:attribute name="oscontactaddress" type="max140text"/> <xs:attribute name="oscontactcity" type="max25text"/> <xs:attribute name="oscontactstate" type="statecode"/> <xs:attribute name="oscontactzipcode" type="max15text"/> <xs:attribute name="oscontact address" type="max50text"/> <xs:simpletype name="submissiontype"> <xs:enumeration value="primarymarketdisclosure"/> <xs:enumeration value="advancerefundingdisclosure"/> <xs:simpletype name="submissionstatustype"> <xs:enumeration value="publish"/> <xs:enumeration value="noticeofcancellationofoffering"/> <xs:simpletype name="issuersubmittedstatustype"> Municipal Securities Rulemaking Board 21

22 <xs:enumeration value="yes"/> <xs:enumeration value="no"/> <xs:simpletype name="offeringtype"> <xs:enumeration value="bond"/> <xs:enumeration value="municipalfundsecurity"/> <xs:simpletype name="issuetype"> <xs:enumeration value="newissue"/> <xs:enumeration value="remarketed"/> <xs:enumeration value="refunded"/> <xs:simpletype name="securitytype"> <xs:enumeration value="cusip-9"/> <xs:enumeration value="commercialpaper"/> <xs:enumeration value="non-cusip"/> <xs:simpletype name="securitystatustype"> <xs:enumeration value="underwritten"/> <xs:enumeration value="partiallyunderwritten"/> <xs:enumeration value="notunderwritten"/> <xs:enumeration value="remarketed"/> <xs:enumeration value="notremarketed"/> <xs:simpletype name="documenttype"> <xs:enumeration value="officialstatement"/> <xs:enumeration value="preliminaryofficialstatement"/> <xs:enumeration value="advancerefundingdocument"/> Municipal Securities Rulemaking Board 22

23 <xs:enumeration value="remarketingsupplement"/> <xs:enumeration value="mfsdisclosuredocument"/> <xs:enumeration value="mfsdisclosuredocumentsupplement"/> <xs:simpletype name="documentstatustype"> <xs:enumeration value="current"/> <xs:enumeration value="archived"/> <xs:enumeration value="removed"/> <xs:simpletype name="posavailabilitystatustype"> <xs:enumeration value="possubmitted"/> <xs:enumeration value="noposprepared"/> <xs:simpletype name="osavailabilitystatustype"> <xs:enumeration value="osnotavailableatclosing"/> <xs:enumeration value="osavailableonlyfromunderwriter_15c212exemptlimitedoffering"/> <xs:enumeration value="osnotproduced_15c212exemptlimitedoffering"/> <xs:enumeration value="osnotproduced_15c212exemptshorttermoffering"/> <xs:enumeration value="osnotproduced_15c212exemptputtableoffering"/> <xs:enumeration value="osnotproduced_15c212exemptsmalloffering"/> <xs:simpletype name="underwritingspreaddisclosureindicatortype"> <xs:enumeration value="disclosedinofficialstatement"/> <xs:enumeration value="notdisclosed_competitivesale"/> <xs:simpletype name="cusip6type"> <xs:minlength value="6"/> <xs:maxlength value="6"/> Municipal Securities Rulemaking Board 23

24 <xs:simpletype name="cusip9type"> <xs:minlength value="9"/> <xs:maxlength value="9"/> <xs:simpletype name="statecode"> <xs:pattern value="[a-z]{2,2}"/> <xs:simpletype name="isodate"> <xs:restriction base="xs:date"/> <xs:simpletype name="isodatetime"> <xs:restriction base="xs:datetime"/> <xs:simpletype name="max250text"> <xs:minlength value="1"/> <xs:maxlength value="250"/> <xs:simpletype name="max140text"> <xs:minlength value="1"/> <xs:maxlength value="140"/> <xs:simpletype name="max75text"> <xs:minlength value="1"/> <xs:maxlength value="75"/> <xs:simpletype name="max50text"> Municipal Securities Rulemaking Board 24

25 <xs:minlength value="1"/> <xs:maxlength value="50"/> <xs:simpletype name="max25text"> <xs:minlength value="1"/> <xs:maxlength value="25"/> <xs:simpletype name="max15text"> <xs:minlength value="1"/> <xs:maxlength value="15"/> <xs:simpletype name="max6text"> <xs:minlength value="1"/> <xs:maxlength value="6"/> <xs:simpletype name="basictime"> <xs:pattern value="(0[0-9] [1][0-9] [2][0-3]):(0[0-9] [1-5][0-9])"> <xs:simpletype name="basicdate"> <xs:pattern value="(19 20)\d\d-(0[1-9] 1[012])-(0[1-9] [12][0-9] 3[01])" /> <xs:complextype name="basicdatetime"> <xs:sequence> <xs:annotation> <xs:documentation>dates will be in EST. Date and Time fields have been broken up into components so that Timezone is not used.</xs:documentation> Municipal Securities Rulemaking Board 25

26 </xs:annotation> <xs:element name="date" type="tns:basicdate" /> <xs:element name="time" type="tns:basictime" /> </xs:sequence> <!-- Type definition ends --> </xs:schema> Municipal Securities Rulemaking Board 26

27 Figure 3: Date Tag Glossary for Primary Market Web Service Interface DATA TAG GLOSSARY Below is a glossary of data tags to be used in the Primary Market Web Service Interface. These data elements are organized in a hierarchical data relationship. This glossary sets out each data element s XML container, data tag, definition and data specifications, including a listing of enumerated values for those data elements where the submitter chooses a value and an example of the data format where the submitter enters a value. Subscription Data Tags Description and Specification Primary Market Web Service Interface XML Container Subscriber Data Message Submission Data Tag Definition Data Specification Submission Transaction Count Replay Date Submission Type Submission Status Submission Identifier The number of submission transactions contained in the Subscriber Data Message For subscriber data requests that contain date parameters, return data will be one day per Subscriber Data Message. The Replay Date will indicate the applicable date to which the content of the data message applies Indicates base category of disclosure, consisting of primary market or advance refunding disclosure Indicates the intention to publish the information in the EMMA public portal or as official notice of cancellation of the offering Unique identifier assigned by EMMA at time of initiation of submission (the initial submission event) and used by the submitter in connection with subsequent submission events Integer ex: 37 CCYY-MM-DD ex: Enumerated Value: PrimaryMarketDisclosure AdvanceRefundingDisclosure Enumerated Value: Publish NoticeOfCancellationOfOffering Max25Text ex: S Municipal Securities Rulemaking Board 27

28 XML Container Submission Offering Data Tag Definition Data Specification Issuer Submitted Submission Transaction Date Time Offering Type CUSIP9 Of Latest Maturity On Issue Not Underwritten OS Availability Status POS Availability Status Underwriting Spread Indicates if the data were provided by an issuer EMMA-assigned date and time the submission was registered in EMMA Identifies the offering as debt securities, including bonds, notes, certificates of participation and other debt obligations Nine-digit CUSIP number of the latest maturity of each issue in the offering that is not underwritten by the underwriter, if any Indicates special availability conditions with respect to the official statement, including whether (i) the official statement will be made available late (after closing); (ii) an official statement has not been produced; or (iii) the official statement produced for a limited offering under Rule 15c2-12(d)(1)(i) is available only from the underwriter Indicates special availability conditions with respect to the preliminary official statement where an official statement is not available by closing, including whether (i) the preliminary official statement is being made available or (ii) preliminary official statement has not been produced Underwriting spread or agency fee paid to underwriter in a negotiated offering, if not disclosed in official statement (if Underwriting Spread is in dollars e.g., express $1,000, as ; otherwise if in basis points e.g., express 25 basis points as 0.25) Enumerated Value: Yes No CCYY-MM-DDT00:00:00 ex: T13:30:00 Enumerated Value: Bond Municipal Fund Security String{Min9,Max9} ex: AB7 Enumerated Value: OSNotAvailableAtClosing OSAvailableOnlyFromUnderwriter_15c212 ExemptLimitedOffering OSNotProduced_15c212ExemptLimitedOff ering OSNotProduced_15c212ExemptShortTer moffering OSNotProduced_15c212ExemptPuttableO ffering OSNotProduced_15c212ExemptSmallOffe ring Enumerated Value: POSSubmitted NoPOSPrepared Float ex: [dollars] or 0.85 [basis points] Interpretation of value: If Underwriting Spread value is greater than the value will be interpreted as dollars, otherwise as percent. Municipal Securities Rulemaking Board 28

29 XML Container Offering Issue Data Tag Definition Data Specification Underwriting Spread Disclosure Indicator Is Subject To Continuing Disclosure Agreement Issue Type Security Type Issuer Name Issue Description Issuer State Issue Closing Date Issue Dated Date Original Dated Date CUSIP6 If underwriting spread not submitted to EMMA, indicates whether underwriting spread or agency fee paid is disclosed in official statement or if not disclosed for a competitive sale. Indicates whether the issuer or other obligated persons have agreed to undertake to provide continuing disclosure information as contemplated by Exchange Act Rule 15c2-12 Indicates whether issue is (i) a new issue (including new money issues and current and advance refunding issues), (ii) an outstanding issue that is being remarketed, or (iii) an outstanding issue that is being refunded Indicates whether (i) nine-digit CUSIP numbers are assigned to the securities in the issue, (ii) no CUSIP numbers are assigned to the securities in the issue, or (iii) only a six-digit CUSIP number has been submitted to EMMA for a commercial paper issue Full issuer name as it appears on the official statement Full issue description as it appears on the official statement Standard state abbreviation Date on which the issue is expected to settle Dated date of the issue Original dated date of an issue if a new dated date is assigned for the remarketed issue in which the CUSIP number has not changed Six-digit base CUSIP number for commercial paper issues, as assigned by the CUSIP Service Bureau Enumerated Value: DisclosedInOfficialStatement NotDisclosed_CompetitiveSale Enumerated Value: Yes No Enumerated Value: NewIssue Remarketed Refunded Enumerated Value: CUSIP-9 CommercialPaper Non-CUSIP Max250Text ex: Emma County Infrastructure Finance Authority Max250Text ex: Road Improvement Refunding Bonds, Series 2008A String;StateCode;2 ex: VA CCYY-MM-DD ex: CCYY-MM-DD ex: CCYY-MM-DD ex: String{Min6,Max6} ex: Municipal Securities Rulemaking Board 29

30 XML Container FormalAward DateTime FormalAward DateTime First Trade Execution Date Time Obligated Person Data Tag Definition Data Specification Original CUSIP9 Of Remarketed Security Date Time Date Time Obligated Person Type Name Of Obligated Person For Continuing Disclosure Filing Schedule Basis For Filing Original nine-digit CUSIP number of the latest maturity of an issue being remarketed if one or more new CUSIP numbers are assigned to the remarketed securities For competitive issues, the later of the time the issuer formally awards the issue or the time the issuer notifies the underwriter of the award; and, for negotiated issues, the later of the time the contract to purchase the securities from the issuer is executed or the time the issuer notifies the underwriter of its execution of the agreement. First Date and Time an underwriter anticipates beginning trade execution in a new issue. Indicates the type of person(s) (issuer or other obligated person) who has agreed to provide to EMMA continuing disclosure documents pursuant to continuing disclosure undertakings entered into consistent with Exchange Act Rule 15c2-12 The name of the entity acting as an obligated person, that has or will undertake, or is otherwise expected to provide, continuing disclosure as identified in the continuing disclosure undertaking The timing for submission of annual financial information can be provided either as a specific date each year (CalendarYear basis, i.e., month and day, such as June 30) or the number of days or months after the end of the fiscal year (FiscalYear basis, i.e., such as 120 days after the end of the fiscal year December 31). String{Min9,Max9} ex: AB7 BasicDate Ex : BasicTime Ex: 22:55 BasicDate Ex : BasicTime Ex: 22:55 Enumerated Value: Issuer Other Max140Text ex: Emma County Infrastructure Finance Authority Enumerated Value: CalendarYear FiscalYearEnd Municipal Securities Rulemaking Board 30

31 XML Container Disclosure Filing Schedule Disclosure Filing Schedule Data Tag Definition Data Specification Calendar Year Annual Filing Month Calendar Year Annual Filing Day Fiscal Year End Month Fiscal Year End Day Month Or Day Count After Fiscal Year End When Filing Expected Indicates the CalendarYear month of the specific date of each year of the continuing disclosure undertaking Indicates the CalendarYear day of the specific date of each year of the continuing disclosure undertaking Indicates the FiscalYearEnd month of the obligated person s fiscal year Indicates the FiscalYearEnd day of the obligated person s fiscal year Indicates the number of days or months after a specified end date of the issuer s or obligated person s fiscal year of the continuing disclosure undertaking Enumerated Value: 1 (for January) 2 (for February) 3 (for March) 4 (for April) 5 (for May) 6 (for June) 7 (for July) 8 (for August) 9 (for September) 10 (for October) 11 (for November) 12 (for December) Integer ex: 31 Enumerated Value: 1 (for January) 2 (for February) 3 (for March) 4 (for April) 5 (for May) 6 (for June) 7 (for July) 8 (for August) 9 (for September) 10 (for October) 11 (for November) 12 (for December) Integer ex: 30 Integer ex: 120 (i.e, 120 days after end of fiscal year) ex: 3 (i.e, 3 months after end of fiscal year) Municipal Securities Rulemaking Board 31

32 XML Container Securities Data Tag Definition Data Specification Month Or Day After Fiscal Year End When Filing Expected CUSIP9 Maturity Date Security Dated Date Maturity Principal Amount Initial Offering Price Yield Initial Offering Price Initial Offering Yield Interest Rate Security Status Par Value Underwritten Indicates whether the number provided after a specified end date of the issuer s or obligated person s fiscal year is a day or month count Nine-digit CUSIP number for each security, as assigned by the CUSIP Service Bureau not provided for securities ineligible for CUSIP numbers and for commercial paper issues Maturity date of the security not provided for commercial paper issues Dated date of security not eligible for CUSIP number assignment Total principal amount at maturity of the security not provided for commercial paper issues Initial offering price or yield of the security - provided for CUSIP9 and Ineligible for CUSIP Number Assignment securities Initial offering price of the security - provided for CUSIP9 securities. Initial offering yield of the security provided for CUSIP9 securities Interest rate of the security not provided for commercial paper issues If the underwriter partially underwrites an issue, indicates if a security was not underwritten by the underwriter or if the underwriter underwrote only a portion of a security; or if an issue is partially remarketed, indicates if a security was not remarketed If the underwriter partially underwrites a security (i.e., Underwritten Indicator = Partially Underwritten), par value of the security underwritten by underwriter Enumerated Value: Day Month String{Min9,Max9} ex: AB7 CCYY-MM-DD ex: CCYY-MM-DD ex: Decimal ex: Float ex: [price] or 3.95 [yield] Float ex: Float ex: 3.95 Decimal ex: 3.9 [fixed rate] or 0 [zero coupon/capital appreciation] or blank [variable rate] Enumerated Value: Underwritten NotUnderwritten PartiallyUnderwritten Remarketed NotRemarketed Decimal ex: Municipal Securities Rulemaking Board 32

33 XML Container Securities Document Data Tag Definition Data Specification Original CUSIP9 of Refunded Security New CUSIP9 of Refunded Security New CUSIP9 of Unrefunded Balance Document Identifier Document Type Document Description Document Status Document Posting Date Document Archive Date Document Remove Date For a refunded issue, provides original CUSIP number(s) for security(ies) being advance refunded For a refunded issue, provides newly assigned CUSIP number for security (or portion of security) being advance refunded, if new CUSIP number is assigned to all or a portion of the refunded security For a refunded issue, provides newly assigned CUSIP number for security (or portion of security) not being advance refunded, if new CUSIP number is assigned to all or a portion of the unrefunded balance of the refunded security EMMA-assigned unique identifier for a document of specific document type Indicates type(s) of documents available for the offering, including (i) official statement, (ii) preliminary official statement, (iii) advance refunding document, (iv) remarketing supplement (v) Municipal Fund Security (MFS) Disclosure Document, or (vi) Municipal Fund Security (MFS) Disclosure Document Supplement Document name, if any Indication of the active state of a document consisting of current and archived The date the document was posted to the public on EMMA The date the document was moved to the EMMA archive The date the document was removed from a submission on the EMMA primary market disclosure service String{Min9,Max9} ex: AB7 String{Min9,Max9} ex: AB7 String{Min9,Max9} ex: AB7 Max25Text ex: 2535 Enumerated Value: OfficialStatement PreliminaryOfficialStatement AdvanceRefundingDocument RemarketingSupplement MFSDisclosureDocument MFSDisclosureDocumentSupplement Max75Text ex: Official Statement or Preliminary Official Statement or Escrow Deposit Agreement or Reoffering Circular Enumerated Value: Current Archived Removed CCYY-MM-DD ex: CCYY-MM-DD ex: CCYY-MM-DD ex: Municipal Securities Rulemaking Board 33

34 XML Container Document File Data Tag Definition Data Specification CUSIP9 Identifier Of Refunding Issue Original CUSIP9 of Refunded Security File Identifier File Order File Status File Posting Date File Archive Date File Remove Date OS Contact Organization Name Nine-digit CUSIP number (s) of the refunding issue Original CUSIP number for security being refunded, reflecting the CUSIP number of the security immediately preceding the refunding EMMA-assigned unique identifier for electronic file(s) constituting the submitted document If a document consists of more than one electronic file, provides file sequence information Indication of the active state of a file consisting of current and archived The date the file was posted to the public on EMMA The date the file was moved to the EMMA archive The date the file was removed from a submission on the EMMA primary market disclosure service Long name of the contact organization responsible for making the official statement available upon request String{Min9,Max9} ex: AB7 String{Min9,Max9} ex: AB7 Max25Text ex: MS Integer ex: 24 Enumerated Value: Current Archived Removed CCYY-MM-DD ex: CCYY-MM-DD ex: CCYY-MM-DD ex: Max140Text ex: MuniBond Dealer OS Contact First Name The first name of the contact person responsible for making the official statement available upon request Max25Text ex: Emma Limited Offering OS Contact Last Name The last name of the contact person responsible for making the official statement available upon request Max25Text ex: Jones Municipal Securities Rulemaking Board 34

35 XML Container Contact Data Tag Definition Data Specification OS Contact Title The title of the contact person responsible for making the official statement available upon request Max140Text ex: Senior Vice President OS Contact Phone Number OS Contact Phone Number Extension The phone number of the contact person responsible for making the official statement available upon request The extension of the phone number (if any) of the contact person responsible for making the official statement available upon request Max15Text ex: Max6Text ex: 1235 OS Contact Address OS Contact City OS Contact State OS Contact Zip Code OS Contact Address The street address or post office box of the contact person responsible for making the official statement available upon request The address city of the contact person responsible for making the official statement available upon request The address state of the contact person responsible for making the official statement available upon request The address zip code of the contact person responsible for making the official statement available upon request The address of the contact person responsible for making the official statement available upon request Max140Text ex: 123 Security Road Max25Text ex: Alexandria String;StateCode;2 ex: VA Max15Text ex: Max50Text ex: Municipal Securities Rulemaking Board 35

36 Figure 4: Data Tag Mapping for the Primary Market Web Service Interface DATA TAG MAPPING Below are the information types and allowed values associated with subscription messages. Primary market disclosures will consist of offering types bond and municipal fund securities. Advance refunding disclosures will consist of offering type bond. Issue and security types are included as appropriate to describe the nature of the offering. Five types of documents will be disseminated to subscribers: official statements, preliminary official statements, municipal fund securities disclosure document and municipal fund securities disclosure document supplements. Normally, a document will consist of a single PDF file. If a document consists of multiple files, each file will be disseminated separately. Municipal Securities Rulemaking Board 36

37 Municipal Securities Rulemaking Board 37

38 Municipal Securities Rulemaking Board 38

39 Municipal Securities Rulemaking Board 39