Chapdelaine® Remembers 9.11.01| Notice: Bid Wanted Auction Practices |
| As of January 7, 2008, customers seeking to sell municipal bond items will have the option of posting their items under "around time," "sharp time," or "open auction." While we believe that most of our customers will prefer to post items as "around time" we leave that decision solely to the discretion of the potential seller. |
| Around Time Auctions: |
| Around Time Auctions will be posted under the format, "ARND 12:00 FT 2:00," (that is, bids will be aggregated at approximately 12:00 and until bidding is closed at the discretion of the seller; all bids once submitted will be held firm until 2:00). |
| Sharp Time Auctions: |
| Sharp Time Auctions will be posted under the format, "SHRP 12:00 FT 2:00," (that is bids will be accepted until 12:00 sharp and will be held firm until 2:00). |
| Open Auctions: |
| Open Auctions will be posted under the format "ARND 12:00," (that is bids will be aggregated around 12:00 and bids are held firm unless revoked prior to final disposition of the auction.) |
| Contact |
| Any questions with regard to the above may be directed to Chris Deissler at 212-208-9080 or cd@chappy.com or Kevin Harrington at 212-208-9058 or kh@chappy.com. |
| Regards, |
| Chapdelaine & Co. |
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