Non-competitive Bid Auction

Non-competitive Bid Auction
   An auction which allows bids for quantity rather than price, particularly for government securities. The noncompetitive bidder pays the average price determined by the competitive bidders. These bids allow small investors to participate in the auction. Non-competitive bids are given priority and are awarded in full, so they can reduce the amounts available to competitive bidders.

Financial and business terms. 2012.

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