After issuance, bonds that sold without insurance may still be insured by MAC if they meet our underwriting criteria and we have capacity for the credit. Dealers and institutional investors may seek secondary market insurance to obtain greater comfort on positions they want to retain, meet portfolio credit requirements or to increase relative market liquidity. MAC has pre-approved more than 9,500 credits for secondary market insurance, and we will consider other transactions we are asked to review.
There are two ways to obtain MAC secondary market insurance.
For telephone quotes on secondary market transactions, contact our secondary market desk:
212 408 6067
212 408 6036
212 408 6065
212 408 6078
Users of the electronic trading platform of TMC Bonds LLC (TMC) may request MAC insurance for eligible bonds simply by selecting the insurance with a mouse-click. Insurance is available on this platform for any pre-approved municipal bond credit that trades over TMC, or for pre-approved credits that TMC members already hold, in minimum par amounts of $50,000. Availability of MAC insurance for a bond is indicated on-screen, and TMC members can also search for specific issues by CUSIP.
Trading on TMC is anonymous, with TMC the counterparty on every trade. For more information about TMC, visit tmc.bonds.com