Understanding Bids Wanted Data
A "bid wanted" occurs when a holder of a municipal bond solicits competitive bids from dealers, signaling active intent to sell. This pre-trade data is a direct indicator of selling pressure and liquidity in the market—and it is distinct from offering data, which reflects where dealers are willing to sell inventory they already hold.
For traders and portfolio managers, bids wanted data reveals which bonds are coming to market before transactions are finalized. This creates opportunities to source bonds at competitive levels, identify sectors experiencing elevated selling activity, and gauge the supply side of the market in near real-time. For compliance and surveillance teams, bids wanted prices provide valuable reference points for evaluating the fairness of executed trades.
Because the municipal market is fragmented across more than a million outstanding securities, no single dealer sees the full picture. MBIS aggregates bids wanted data from hundreds of municipal bond dealers, delivering updates via SFTP every 15 minutes throughout the trading day. The result is one of the most comprehensive views of sell-side activity available to market participants.
Search for a CUSIP above to view recent bid wanted activity, or contact us to access the full intraday feed.
