Build America Mutual started posting indicative quotes for secondary market insurance on more than 10,000 CUSIPs on the Bloomberg Professional Service, the bond insurer announced on Tuesday. All of the bonds listed have been underwritten by BAM's public finance group and pre-approved by the insurer's credit committee.
"Secondary market insurance is becoming a more important tool for institutional investors and regional dealers that want to enhance the credit quality and liquidity of their holdings and offerings," said Scott Richbourg, BAM's head of public finance. "Bloomberg is a part of their workday, and having our prices there helps make the process of wrapping a bond with insurance as seamless as possible."
Bloomberg Terminal users who select the ALLQ page for a bond that is eligible for BAM insurance will see the price quote next to the new "BAMZ" ticker symbol. They can then call BAM's secondary market desk at 212-235-2550 to execute the transaction.
BAM's secondary quotes are also available on MuniBrokers.com and the Lumesis DIVERAdvisor platform, and BAM insurance is available for live execution via TMC Bonds.
