Auctions by Zions Direct
By Zions Direct Inc.
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Auctions by Zions Direct is an innovative tool for purchasing corporate bonds, municipal bonds, FDIC-insured CDs and other investment products through live securities auctions. Participants have the opportunity to bid on their desired yield or price for a particular security. With this free app, you can view and participate in a Zions Direct security auction wherever you are!
Browse dozens of security auctions that are happening in real time. View the number of bidders, the number of bids, and the Current Market Clearing Yield or Price for any live auction.
-View tutorials that walk you through the auction process.
-Anyone can sign up and participate in an auction! You don’t need to become a customer of Zions Direct until you win.
-Bidding in an auction has three potential results:
1) you may win the securities at the price or yield you bid,
2) you may win the securities at a lower price or higher yield than you bid, or
3) you are outbid and you don’t win any securities.
-Access additional information about issuers and offering documents to help you make more informed decisions.
-Sign up to be alerted when you have been outbid.
-Bid multiple times in an auction to potentially increase your chances of success.
Securities products and services offered by Zions Direct, Member FINRA / SIPC, a non-bank subsidiary of Zions Bank. Affiliates of Zions Bank or other issuers may purchase CDs or securities through the auction process. The market clearing yield may be lower due to the participation of an affiliate in the auction which may benefit the affiliated issuer.
The current Market-Clearing Yield/Final Auction Yield is calculated as Yield to Worst (YTW) which is the lowest of: yield to maturity, yield to call, yield to put, or other yields when a bond is callable, puttable, exchangeable, or has other features. If a bond is called, put, or exchanged before maturity, the bondholder only earns interest on the time that has elapsed between purchasing the bond and its early redemption. The resulting yield is less than what would have been earned had the bond been held until maturity.
Investment Products: Not FDIC Insured, No Bank Guarantee, May Lose Value
Bank Deposits and Certificates of Deposit (CDs) are FDIC Insured up to Applicable Limits
What's New in Version 1.5.0
Added support for coupon bidding.