Locally Accessible Information: How Much Can the Parties Gain by Cooperating?

We investigate measurements of bipartite ensembles restricted to local operations and classical communication and find a universal Holevo-like upper bound on the locally accessible information. We analyze our bound and exhibit a class of states which saturate it. Finally, we link the bound to the problem of quantification of the nonlocality of the operations necessary to extract locally inaccessible information.