Capital Markets Still Functioning
September 12, 2001Pittsburgh, PA (September 12, 2001) — The State of Texas conducted a successful auction today using its investment website, www.BidTX.com, to purchase $70 million of 6-month certificates of deposit. The bidders–41 Texas banks–submitted 143 bids totaling $110 million, which compares favorably with results of similar auctions conducted by the State in recent months. “We are… Read more »
Categories: Auctions
Pennsylvania State Treasurer Barbara Hafer Announces Plans to Launch BidPA
September 1, 2001Pittsburgh, PA (September 1, 2001)— Pennsylvania State Treasurer Barbara Hafer has announced plans to launch BidPA, an on-line auction platform allowing Pennsylvania banks to competitively sell Certificates of Deposit to the Treasury Department. Treasurer Hafer will hold two back-to-back auctions on a monthly basis for 3 month and 6 month CDs. The first two auctions… Read more »
Categories: Auctions
Wilmington Trust Expands Financial Offerings with WTauctions.com Site Created and Maintained by Grant Street Group
May 29, 2001WILMINGTON, Del. — (BUSINESS WIRE) — May 29, 2001via NewsEdge Corporation – Wilmington Trust introduced the financial industry’s first online transaction Website connecting brokers-dealers, issuers, and indenture trustees of auction reset securities, a frequent investment option for corporations and high-net-worth individuals. Through wtauctions.com, Wilmington Trust enters the $50 billion auction reset securities market. Traditionally, most… Read more »
Categories: Auctions
First Internet Auction of Custody Securities by Lender/Custodian
May 17, 2001Pittsburgh, PA (May 17, 2001)— Mellon Financial Corporations Global Securities Lending Group conducted its first Internet based auction of securities held in custody on Wednesday, May 16. Dealers submitted bids to borrow shares of a highly sought after equity in an open auction lasting 30 minutes. During the auction, bidders were permitted to see whether… Read more »
Categories: Auctions
BidOhio Receives a National Award from the GFOA
April 15, 2001Pittsburgh, PA (April 15, 2001)— BidOhio, an Internet-based auction platform created by Grant Street Group for the Ohio Treasurer’s jumbo CD program, won its third national award when the Government Finance Officers Association (GFOA) selected Ohio to receive the Louisville Award for Financial Innovation. BidOhio has previously been recognized by the Association for Financial Professionals… Read more »
Categories: Auctions
Louisiana to Hold its First Jumbo CD Auction on April 17
April 1, 2001Pittsburgh, PA (April 1, 2001) — On Tuesday, April 17, 2001, the State of Louisiana will hold its first Internet auction for jumbo certificates of deposit (CDs) on its private-label website (www.BidLouisiana.com) created by the Grant Street Group. The Louisiana Department of the Treasury will conduct quarterly auctions for the placement of $50 million in… Read more »
Categories: Auctions
MuniAuction Changes Name
February 12, 2001Pittsburgh, PA (February 12, 2001)— MuniAuction, the Pittsburgh-based firm that pioneered Internet auctions of new bond issues, has changed its name to Grant Street Group. The new name reflects completion of the company’s transition from an Internet auctioneer for new municipal bond issues to a unique application service provider (ASP) that both hosts Internet auctions… Read more »
Categories: Company History
MuniAuction Hosts First Internet Auction of a Tax-Exempt Interest Rate Swap
February 5, 2001Pittsburgh, PA (February 5, 2001) — MuniAuction, the Pittsburgh-based firm that pioneered Internet auctions of new bond issues, and who recently received a patent on its auction methodology, hosted the first Internet auction of a tax-exempt interest rate swap on February 1. The Commonwealth of Massachusetts conducted the auction on their private label website, www.BidMass.com,… Read more »
Categories: Auctions
MuniComp Gains Market Support
January 18, 2001Pittsburgh, PA (January 18, 2001) — MuniAuction’s online bid calculator, MuniComp, continues to impress underwriters, issuers and financial advisors alike. “The unique combination of MuniComp’s features creates an “auction tool” with which underwriters can both calculate and submit bids while still actively participating in a real-time auction” says Chris Blackwood, Manager of E-Commerce at Kirkpatrick… Read more »
Categories: Auctions
Auction Rate Preferred Securities Move to Internet
Pittsburgh, PA (January 18, 2001) — MuniAuction has conducted another transaction in Auction Rate Preferred securities (ARPs) through Wilmington Trust, (http://www.WTauctions.com). MuniAuction’s ability to create auction and exchange platforms for the capital markets has created opportunities for development of a wide range of web-based applications. MuniAuction typically creates the platforms for its clients and then… Read more »
Categories: Auctions