| |
Feature
|
|
Benefits
|
|
| |
| |
Multiple Bid Methods |
|
Bids are submitted using auction system whereby bids can be improved. This fosters increased demand for an issuer's funds. |
|
| |
| |
Bid Error Elimination |
|
All bid information is entered into a web-based table with strict error control. This eliminates bid errors. |
|
| |
| |
Process Transparency |
|
The issuer can observe the auction in real time, viewing all elements of the auction process. |
|
| |
| |
Instant Bid Calculation |
|
Upon the end of an auction period, the results of the auction are posted instantly to all bidders. The winning bidder is verified within seconds. |
|
| |
| |
Electronic Documents |
|
Before the auction the Preliminary Official Statement (POS) and Notice of Sale (NOS) are distributed electronically, at no cost to the issuer. |
|
| |
| |
Cost Reduction |
|
The posting of documents online coupled with electronic advertising can save issuers thousands of dollars in issuance costs. |
|
| |
| |
Security |
|
No funds are transmitted over the Internet. |
|
| |
| |
Confidentiality |
|
Bidders must be preauthorized by the Issuer and must meet the strict criteria of the issuer. Bidders have unique password/ID combinations. Bidders are anonymous during the auction. |
|
