Micro-Muni Bidding Software - $1,500
MICRO-MUNI Ò BIDDING is a sophisticated computer software product that can give you an edge in today's competitive bidding environment. MICRO-MUNI Ò BIDDING was designed for bond underwriters and traders to determine an optimal Net Interest Cost (NIC) or optimal True Interest Cost (TIC) solution for a competitive or negotiated bid. The following summarizes some of the features offered by MICRO-MUNI Ò BIDDING:

• MICRO-MUNI Ò BIDDING is a menu driven system, often with several options available under one command. For example, the INPUT menu provides a menu of input screens. Data entry screens simplify input/changes to bond parameters and provide immediate validation of data entry items (e.g. valid maturity dates).
  
  
• Operates on microcomputers, under a DOS environment from Windows 95/98, Windows 2000 and Windows NT, and utilizes the initial 640K area of conventional memory (540K of free space is recommended). All the MICRO-MUNI Ò BIDDING program files can be copied directly to your hard disk and utilize approximately 2 million bytes of storage space.
  
  
• Multiple Bond Types can be entered for each bond issue. The bond types include: 1) Standard (Current Interest Bonds), 2) CABS (Capital Appreciation Bonds), 3) Notes, 4) Term Bonds (for Current Interest Bonds), 5) Term CAB (Term Capital Appreciation Bonds) and 6) Convertible CABS.
  
  
• Up to 512 Bond debt service repayment dates can be utilized. Bond principal and/or interest can be monthly, quarterly, semi-annual or annual. All dates are processed and saved in your data files as four (4) digit years, two (2) digit months, and two (2) digit days (e.g. the year 1/15/2001 is saved as 20010115). MICRO-MUNI Ò BIDDING will accept valid input years well into the next millenium (years up to the year 3000 if your are still around).
  
  
• Five Net Interest Cost (NIC) and five True Interest Cost (TIC) solutions are available that will provide up front production, ascending or descending coupons, or a one coupon solution. Based on bidding constraints, coupon solutions seek the minimal coupon scale needed to meet the target production.
  
  
• Limited coupon spread solutions can be optimized within an overall lower and upper coupon range. For example: maximum coupon spread of 2% within an overall coupon range of 3 to 6%.
  
  
• Bond bidding constraints include: call options by maturity and call options affecting all bonds, upper and lower coupon and pricing constraints, coupon multiples, bond insurance, as well as options for the New Jersey Code and Arkansas Conversion Methods.
  
  
• Municipal Bonds can be priced using either MSRB (Municipal Securities Rule-making Board) Rule G-33 or via formulas from the Standard Securities Calculations Methods manual. Bonds can be priced to obtain Gross Production, Spread, Production by Maturity, Bonds Years, NIC, changes in NIC for each dollar change in profit, TIC, weighted average life, weighted bond years, and weighted NIC. Setting CALL options will automatically price bonds to maturity and to call and then select the least price.
  
  
• Bond prices are determined by pricing each bond to maturity and to all applicable call options, and then selecting the least price.
  
  
• Several Bond Debt Service Solutions (which may include Capital Appreciation Bonds) are available for determining the repayment amounts of each bond maturity. The types of solutions available include: LEVEL (level debt service payments), ACCELERATED (front loaded bond debt service), DEFERRED (back loaded bond debt service), UNIFORM (proportional debt service based on a user defined maximum allowable debt service schedule), FILL and FILL and CARRY (determines the maximum amount of bonds that can be issued based on a user defined maximum debt service schedule), and EQUAL (equal principal payments).
  
  
• Several Reports are available to review Bond Debt Service and Bond Production Results (gross production, spread, bond years (accreted bond years for CABS), production by maturity, takedowns by maturity, NIC, TIC, changes in NIC for each dollar change in profit, weighted average price, weighted bond years and weighted NIC).
  
  
• Accreted Value Reports are available for Capital Appreciation Bonds. Four accretion calculations methods are available, such as 1) Future Value accretion based on Stated Yield to Maturity, 2) Future Value Accretions based on Actual Yield to Maturity, 3) Present Value of Future receipts at Stated Yield to Maturity, and 4) Re-pricing the CAB on each debt service payment date.
  
  
• Present Value Calculations (Discounted Cash Flows) can be obtained for the Bond Issue, and for TIC verification.
  
  
• Several bond issues can be saved separately within one data file (each identified by a unique keyname).