Pittsburgh Finalizes Plans To Sell Municipal Bonds Via Internet
On October 11, the City of Pittsburgh announced that it has finalized plans to use MuniAuction Inc. of Pittsburgh to conduct an online auction of the city’s bonds via the Internet. The auction reportedly will take place in early November and will be open to Wall Street dealers and more than 750 institutional investors. There reportedly are no plans in the works to permit individual retail investors to participate in the auction. See Gregory Zuckerman, Pittsburgh To Sell Bonds on Internet: Move Cuts Out Wall Street’s Middlemen, Wall St. J. special to MSNBC, Oct.
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