Grant Street Group Receives Sweeping Patent Covering On-line Bond Auctions

December 12, 2000

Pittsburgh, PA (December 12, 2000)— MuniAuction, the Pittsburgh-based Internet company that pioneered electronic bond auctions, received a patent on its popular method of selling new bond issues. On December 12, 2000 the US Patent and Trademark Office issued a patent to MuniAuction, giving the firm exclusive rights to conduct (or license its method of conducting)… Read more »

Categories: Auctions | Legal

Texas Held Its First Jumbo CD Auction on Private-Label Site

December 6, 2000

Pittsburgh, PA (December 6, 2000)— On December 6, 2000, the State of Texas hosted its first auction for jumbo CDs over the Internet. Texas Comptroller Carole Keeton Rylander said $70 million in certificates of deposit were awarded to 42 banks, credit unions and savings and loans at an average interest rate of 6.19 percent. Texas… Read more »

Categories: Auctions

Housing GICs Continue Shift to MuniAuction’s Electronic GIC Platform

November 14, 2000

Pittsburgh, PA (November 14, 2000) — Oregon Housing and Community Services Department conducted a GIC auction on the MuniAuction platform on November 14, 2000 for $35 million in public funds. MuniAuction has acted as agent for 22 previous GICs totaling $1.2 billion in par value. Others using the MuniAuction platform have included Alaska Housing Finance… Read more »

Categories: Auctions

MuniAuction Over $1 Trillion in Par Amount

Pittsburgh, PA (November 14, 2000)— MuniAuction, the Pittsburgh-based firm that pioneered Internet auctions of new bond issues conducted an auction today that pushed the company’s total volume over $1 trillion. Three years ago, MuniAuction conducted the first Internet auction of a new bond issue in a controversial $70 million sale for the City of Pittsburgh…. Read more »

Categories: Auctions

Kirkpatrick to Sell $57 Million of Colorado Bonds Via MuniAuction

August 15, 2000

from The Bond Buyer – Dallas, TX (August 15, 2000) by Darrell Preston Kirkpatrick Pettis’ Denver office is establishing an electronic underwriting presence in an effort to give Colorado issuers – that traditionally favor negotiated deals – another format for doing competitive bond sales. The Omaha-based firm, which launched its electronic commerce effort this summer… Read more »

Categories: Auctions

Borough of State College, Pennsylvania Turns to Web to Pay for Town Hall

July 9, 2000

From the Centre Daily Times – State College, PA (July 9, 2000) by Stephenie Steitzer Pittsburgh, PA (July 9, 2000) — The borough of State College, Pennsylvania is jumping on the Internet ship in an effort to stay afloat in today’s fast-paced electronic world. On Monday afternoon, borough council will accept bids via the Internet… Read more »

Categories: Auctions

FHLBanks Launch New Internet-Based Discount Note Auctions

January 11, 2000

Successful Sale Totals Over $2.4 billion Pittsburgh, PA (January 11, 2000) — The Federal Home Loan Bank System, the nation’s largest source of home mortgage credit, today launched their first ever competitive discount note auction over the internet. Using a customized platform created by AgencyAuction, a unit of MuniAuction, Inc., the 15 member Selling Group… Read more »

Categories: Auctions

A Secondary Market First: MuniAuction to Host Online Trades Dec. 15

December 6, 1999

From the Bond Buyer – Pittsburgh, PA (December 6, 1999) by Jennifer Karchmer For the first time, institutional buyers and sellers of municipal bonds will meet next week over the Internet in secondary market trading through a Website powered by the Pittsburgh-based online bond bidding service MuniAuction. Participants will log onto the Website for the… Read more »

Categories: Auctions

Investors Take a Turn at Bat: Pittsburgh GOs Split Between Street, Direct Buyers in First-of-Its-Kind Sale

November 10, 1999

From the Bond Buyer – Pittsburgh, PA (November 10, 1999) by Jennifer Karchmer and David Hoffman The first test of institutional investors’ appetite for buying municipal bonds directly from their issuers – yesterday’s $56.9 million Pittsburgh general obligation bond sale – produced mixed results. Traditional broker-dealers provided more than three times as many bids than… Read more »

Categories: Auctions | Innovation

Pittsburgh Offers a New Web Option

October 12, 1999

From the Bond Buyer – Atlanta, GA (October 12, 1999) by Robert Whalen and David Hoffman Pittsburgh may again rattle the status quo in the municipal bond market, this time by offering institutional investors the option to bid directly via the Internet on the city’s upcoming $55 million general obligation bond sale. Over the weekend,… Read more »

Categories: Auctions