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General Site Overview
 
This web site was created by Fabkom, Inc. to organize Bid Wanteds, Broker Offerings (Bkr Offerings), Dealer Offerings (Dlr Offerings), Active Markets (Actives) and Related Market Information for use by Institutions, Brokers and Dealers of Municipal Bonds. Some older browser versions may result in display errors. To completely use the available functions we recommend the use of the latest version of either Explorer or Netscape. Version 3 browsers are no longer supported by this web site.

After logging in, users can view the advertised items under the Bid Wanteds, Bkr Offerings, Dlr Offerings and Actives menu items. See the help for “Searching for Items” for more information. Users can access a sophisticated bond calculator for yield analysis. See the help for “Using the Bond Calculator” for additional information.

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Bid Wanteds:  Each day over 1200 Municipal Bonds are advertised by participating Brokers or Dealers, while street side investment professionals bid the items in a “sealed bid” auction. The advertisers maintain anonymity between the buyers and sellers. The “trade/no trade” decision is generally made at an agreed upon and specified time of the day the item is advertised for the bid. This system receives the Bid Wanteds via a “Live” up-to-the-minute feed of information. Users can view the data by contributing company or through a detailed search page, which can easily be saved and recalled.
Broker Offerings:  Thousands of Fixed Income Securities are advertised at a particular price (or yield) by the Brokers. Lot sizes and prices can, and often times are, negotiated between the buyer and the seller. The Brokers maintain anonymity between the buyer and the seller. “Trade/no trade” decisions can be made over several days or even a longer period of time. The Broker Offerings are provided via a “Live” (or current) feed of information. Users can view the data by contributing company or through a detailed search page, which can easily be saved and recalled.
Dealer Offerings:  Dealer holding positions in specific securities can maintain and advertise their portfolio holdings here. Thousands of Fixed Income Securities are advertised for sale at a specified price (or yield). Lot sizes and prices can,
 
and often times are, negotiated between the buyer and the seller. “Trade/no trade” decisions can be made over several days or even a longer period of time. The Dealer Offerings can be maintained by hand or provided electronically via several different feeds. The selling Dealer is fully disclosed and trades can be made directly with that dealer without any additional brokerage fees. Users can view the data by contributing company or through a detailed search page, which can easily be saved and recalled.
MSRB Trade History:  This is the database of live trades as reported by the Municipal Securities Rulemaking Board (MSRB).  On an average day, over 10,000 different CUSIPs trade resulting in roughly 30,000 trades.  Currently, Fabkom's MSRB search reports only securities which trade 2 or more times on a given trading day up through the previous trading day.  Searches may be done on trade history dating back to March 21, 2000. Complete trade history is now live.
Active Markets:  These are 2-sided markets with both buyers and sellers of the securities advertised by the Brokers. These are very much like the Brokers Offerings, however, the bid-side (if it exists) is also shown. The Brokers maintain anonymity between the buyers and sellers. The Actives are provided via a “Live” up-to-the-minute feed of information.
 
    
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