Due Diligence (Part 3 of 3)

Study Notes:

Diver Advisor Municipal Bond Reports by Lumesis

The IBKR Trader Workstation (TWS) offers a long list of relevant details about specific municipal bonds from its third-party research provider Lumesis.

Access the Bond Reports

To access the information through the Trader Workstation, simply right click on the security in the Bond Scanner, select ‘Financial Instrument Info’ in the menu that appears, then ‘Lumesis Bond Details’ in the next pop-up box.

A new tab should then appear in your browser with a myriad of information pertaining to the bond.

The details include:

• The bond’s CUSIP,
• The issuer’s website,
• The maturity date and dated date

Links to the MSRB’s Electronic Municipal Market Access database, or EMMA

EMMA houses the bond’s Official Statement and Continuing Disclosures, among other municipal issuance-related documents.

You’ll also find links to relevant news, as well as credit ratings

Trading history and yield performance

The DIVER Geo Score: which is a proprietary measure of the relative economic health of the issuer’s geography

And sector-based economic data, including, in the case of this Maine GO

• The state’s unemployment rate, and
• Median household income.

• As well as a host of other details.

All this research is intended to provide investors using the IBKR Trader Workstation with the tools and means by which to help them make an informed investment decision.