First Internet Auction of Custody Securities by Lender/Custodian

May 17, 2001

Pittsburgh, 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 | Innovation

BidOhio Receives a National Award from the GFOA

April 15, 2001

Pittsburgh, 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, 2001

Pittsburgh, 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 ( 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, 2001

Pittsburgh, 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, 2001

Pittsburgh, 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,,… Read more »

Categories: Auctions | Innovation

MuniComp Gains Market Support

January 18, 2001

Pittsburgh, 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, ( 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

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