Current Price for Muni Bonds

john.prewitt's Avatar

john.prewitt

26 Jul, 2010 10:25 PM

I just downloaded transactions for a Muni Account from Merrill Lynch. The transactions showed the price to be $1.10837. The current price in the History window for the bond is $100. There is no history yet for the bond since it was just purchased. $100 as a current price would be correct if the number of shares were divided by 100 and the price was $110.837. As it is, the Current Value in the Security Detail window shows $7,500,000 (see the snapshot below). This is a little inconsistent, basis it by 100, this is what my brokerage does, so I had to change the number of shares by dividing it by 100 and multiply the price by 100. Kind of weird, but most brokerage house price the bond around $100 rather than around a $1. When Quicken downloaded the transaction it modified the transaction to have the shares divided by 100 and the price was $110.837.

  1. 1 Posted by Brian Adler on 28 Jul, 2010 06:26 PM

    Brian Adler's Avatar

    John,

    What rules would you suggest that Moneydance use to accomodate this? Currently Moneydance simply records the information from the download of Merrill's servers. How would Moneydance ideally know which transactions to divide the number of shares by 100 and multiply the price by 100?

    We could certainly create a ticket for a suggested change, but we'd need to better understand what change to make under what circumstances.

    Sincerely,

    Brian Adler

    Moneydance Support

  2. 2 Posted by john.prewitt on 28 Jul, 2010 10:43 PM

    john.prewitt's Avatar

    Brian,

    In Quicken, nothing is need to accomplish this but I do notice that the Security Type that is set up when the security's type is initially downloaded from the brokerage is "Bond". I don't know what MD put's into the Type for the security when downloading a new bond security. I can't seem to get to the security information for those bond securities which MD has already download but do not have any actual shares It appears that the convention for Bonds is # of Lots and Price/Lot rather than # shares and Price/Share, a lot is 100 shares.

    I'm not familiar with any of the protocols used to transfer download information from brokerages but looking at the specs for OFX, there is sufficient information available to determine that the security is a Bond. That is, the <ASSETCLASS> in the <STOCKINFO> entry would be equal to DOMESTICBOND or INTLBOND. MD could assume that all such Bond securities would be treated the same. This may not be practical since MD has been in the market place for some time, so it would have to be a selectable option. I would suggest you consider placing this option by accounts. That is add a check square for "Lots of 100" in the "Account Info" window. Where if selected, all securities in this account typed Bond would be treated the same, where the bond's # shares would be in Lots of 100 and the price would be the Lot price.

    You might ask the community what they want. If asked, I would want a system wide change where all new download of Bonds would be in Lots not shares.

    John

  3. System closed this discussion on 31 Mar, 2015 03:30 PM.

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