In the data feed from Municipal Bond Information Services there is a field called "situational bid", which is defined in their reference as "Bids on a security that is being offered for sale." If I Google "situational bid" "security" I don't get any relevant results, which leads me to believe this is a non-standard way of referring to this type of bid. What are some other industry-standard ways of referring to this type of bid?

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    $\begingroup$ AFAIK, if investor A wishes to sell a municipal security they will put out a 'Bid wanted', dealers will reply with a 'situational bid' which only applies to investor A, who can accept one of the bids or negotiate further. It is kind of an auction process. You might look up bid wanted. $\endgroup$ – noob2 Feb 16 at 17:36
  • $\begingroup$ @Emma I expected to get results where other sources than MBIS refer to this type of bid using this term, to validate that it is a term that would be generally understood by people in the financial industry. This would apply to any bond. $\endgroup$ – enharmonic Feb 19 at 22:02

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