What is Bid Wanted In Competition – BWIC?
A situation where an institutional investor submits its bond bid list to various securities dealers. In a bid-wanted-in-competition situation, the dealers are allowed to make bids on the listed securities. The dealers with the highest bids are then contacted. Read more for examples and further explanation including related video clips and also comments
Example explains Bid Wanted In Competition – BWIC
This approach works best on more-liquid securities. For situations where less-liquid bonds are involved, an investor uses a dealer similarly to a broker. An order with a predefined spread range is submitted to a dealer, and it is up to the dealer to fill that order within a limited timespan.
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