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Fixed income investments generally provide a return in the form of fixed periodic payments. At maturity, fixed income investments return the principal. On Fidelity.com, you can buy and sell secondary market fixed income securities such as bonds, or participate in new issue fixed income offerings.
You can:
You can submit buy orders for New Issue Treasury, CD, GSE/Agency, and CorporateNotessm inventory. You can also submit an indication of interest to purchase new issue municipal bonds. See Participating in and Viewing New Issue Offerings for details.
You can enter orders during the standard market session.
No. Municipal Reset Buy, Sell and Hold orders need to be placed with a Fidelity representative. Buy orders can only be entered on the day of the auction between 8 a.m. and 11 a.m. ET for all Municipal Resets except for those that reset on a daily basis, where the cut-off time for placing orders is 9:45 a.m. ET.
Sell and hold orders for Municipal Resets initially purchased at Fidelity and still in the originating account can be entered up to 5 business days in advance with a representative Sell and hold orders for Municipal Resets transferred in to Fidelity must be placed on the day of the auction.On early market close days all Municipal Reset orders must be submitted by 9:00 a.m. ET.
Selling a Municipal Reset as part of the auction assures the seller of receiving par (100) whereas selling at other times, though possible, does not.
To trade on margin, you must have a Margin Agreement on file with Fidelity. If you do not have a Margin Agreement, you must use cash. To establish a Margin Agreement on an account, select Update Accounts/Features under the Accounts & Trade tab, and click Margin and Options under Account Features.
You must enter the security's CUSIP on the Trade Fixed Income page. If you know the CUSIP for the security you want to trade, enter it in the CUSIP field. If you want to search for securities, click Search Inventory. When you select the security you want to trade, the CUSIP is automatically entered for you.
See Searching Fixed Income Inventory for details about how to search for secondary market or new issue offerings.
Enter quantities as follows (numbers only, no dollar signs or commas):
You can enter the following order types for fixed income trades:
When you need to sell a fixed income security immediately, but there are no dealer bid quotes displayed, or you wish to sell a smaller quantity than the current minimum, you may enter a request for bid quote. In this process:
The bid quote request process typically engages dealers who are willing to bid on illiquid or higher risk securities. This finite pool of dealers may discontinue the practice of bidding if they believe Fidelity's customers are using this service for pricing purposes only. That's why Fidelity does not allow you to enter numerous bid requests for the same bond over the course of the day.
If you have questions, please call 800-544-5372.
The prices and yields shown on Fidelity's Fixed Income Secondary Offering tables are posted prior to the assessment of the Fidelity Brokerage Services LLC (FBS) concession. The FBS concession will be applied for customer review prior to placement of the order.
You can enter:
Although a limit order enables you to specify a price limit, it does not guarantee that your order will be executed. You should monitor your orders on the Order Status page or Indications of Interest Order Status Page.
Entering an order makes you eligible for but does not guarantee an allocation of bonds. If the offering is oversubscribed (more bonds were requested than available for purchase) and you did not withdraw your order, you may receive a portion of the bonds you requested, or none at all. Fidelity allocates bonds as fairly and equitably as possible.
Your order will not be sent to Fidelity if you leave the Verification page before you click Place Order, or if you click Cancel.
When you click Place Order on the Verification page, you are agreeing that the order information is correct, and you are authorizing Fidelity to execute the order on your behalf.
When you submit an order online, you always see a Verification page. Review the Verification page carefully before placing your order. You can click Quick Balances and Quick Positions to see your account balances and positions without leaving the Verification page. In most cases, you can also click Model a Hypothetical Trade to help you review the hypothetical impact of a trade on your overall portfolio.
Once you place your order, you will see a Confirmation page displaying your order confirmation number and trade details. You can print this confirmation for your records. Once the order has been executed, Fidelity mails you a paper confirmation.
You can attempt to cancel a pending bond or CD order that has not yet executed from the Orders page. To view open new issue municipal bond orders, select Indication of Interest from the Orders page. See Orders for more information. To attempt to cancel and replace a bond or CD order, call a Fidelity representative at 800-544-6666.
Attempts to cancel, or cancel and replace, open orders are performed on a best-effort basis. There is no guarantee that an open order can be canceled, or canceled and replaced, either in whole or in part.