Citi entered into a partnership with TMC Bonds LLC to offer new- issue municipal bonds through the retail fixed-income trading system's network of dealers, an agreement that will increase and enhance the global investment bank's overall distribution and digital trading capabilities.

The agreement will give pre-approved firms an opportunity to participate in Citi's negotiated retail primary offerings, the companies said in a press release. It will also allow firms that historically have not had access to new-issues to participate in retail order periods as virtual members of syndicates.

The new endeavor, whose official launch is Wednesday, will expand clients' distribution network and increase transparency and openness in the municipal market, Ward Marsh, head of municipal securities at Citi, said in the press release.

The arrangement will expand TMC's product offerings, chief executive officer Tom Vales said in the release.

The new platform supports deals of all sizes and those with multiple underwriters.

Established in 2000 as The Muni Center, TMC has a network of dealers with access to over 125,000 financial advisors, and is active in inter-dealer trades in the secondary market.

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