Introduction

Welcome to BidTX!

As Texas Comptroller, I am pleased to welcome you to BidTX, an innovative electronic bidding auction. Electronic bidding uses the latest Internet technology to conduct on-line auctions with financial institutions to award time deposits. The new BidTX process will ensure fairness and improve competitiveness in the placement of funds in approved Texas depositories.

Technology-particularly the Internet-has revolutionized the way Texans do business. Since taking office I have worked to modernize banking practices and technology within my own agency. Moreover, electronic government is a major focus of e-Texas, my initiative to help Texas state government meet the challenges of the Information Age.

My office will conduct auctions at this site on the first Wednesday of each month for 6-month term time deposits. In February and August we hold bi-annual auctions for 1-year term deposits. The financial institutions that offer the best rates will be awarded deposits. BidTX will provide approved Texas depositories a means to meet the increased demand for state deposits, as well as allow broader access to our deposits.

Thank you for your interest, and your participation in BidTX. We are preparing today for the challenges of tomorrow. We hope you will join us.

Sincerely,


Glenn Hegar
Texas Comptroller of Public Accounts


Go to: BidTX Home Page
Please direct questions and comments to Auction Administrator

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