BWIC Data Standard

The Bids Wanted in Competition (BWIC) data set provides the ability to automate the bidding process for Mortgage-Backed Securities (MBS) between mortgage originators and dealers.

Mortgage originators are choosing MBS execution more than ever before and are distributing BWICs, a formal request for bids on a package of securities, to securities dealer desks. Currently, the information transmitted to dealers is not standardized; as a result, dealers are having trouble keeping up with the increased volume of BWICs, which can lead to delays, lower pricing, and less participation in the BWIC than desired. 

Creation of this data standard, based on the MISMO BWIC template, will allow the downstream trade desks to apply automation to accelerate and enhance the accuracy of trade execution helping to increase the BWICs processed.

This public comment period allows those who participated on the proposals at least 60 days’ notice prior to final release to review and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy).   

MISMO requests that any organization that may have any patent or patent applications, or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products, to disclose them at this time in writing. All comments and disclosures are due by January 3, 2023 and should be directed to [email protected]

Access Information for Members

MISMO Members can access the Product in the Resource Library housed on MISMO's Collaboration Site, "MISMO Connect" here.

Access Information for Non-Members

Non-MISMO members can access the product here.

Disclaimer

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