close search definitions feedback why zions direct products the bond store fees & commissions auctions about auctions bid now retirement planning zions direct tv news & resources cartoons think glossary zions direct people people we know our customers products zions direct tv watch the animated investing series become a better educated investor zions direct tv market view details close details dow jones nasdaq s & p djia nasdaq s & p 500 why zions direct zions direct tv zions direct auctions the bond store low cost investing financial education zions direct tv is the home for zions direct s award winning community and educational videos . learn a wide array of investing concepts through animations and guest speakers . zions direct tv multiple auctions daily retail and institutional bidders can bid daily in security auctions from agency and municipal bonds to fdic insured cds . bidders help determine the price and winners pay no commissions or markups . view auctions as of december 31 2014 30 000 bonds available at the bond store the bond store offers 30 000 bonds and other fixed income products all under one roof . you pay commissions as low as 9.95 for online trades with no additional markups charged by zions direct . bond store no mark ups 0 keep more of your earnings place bond and stock trades through your zions direct account for as low as 9.95 . or try zions direct auctions where fixed income products are purchased with no commission or markup charged by zions direct . compare brokers no commissions 0 no mark ups 0 commission and mark up free investing applies only to trades placed via the auction platform and certain other trades . see fees & commissions for details . fixed income auctions help set the yield on your fixed income investments . create a free bidding account and purchase bonds cds and other investments . sign up we re here to help you give us a call send an email or stop in for a visit . we re eager to help and answer your investing questions . customer service finra s brokercheck obtain information about zions direct and its financial professionals . finra s brokercheck why zions direct products the bond store fees & commissions retirement planning zions direct tv auctions about auctions bid now about us corporate information affiliates news & resources cartoons think glossary refer a friend customer service contact forms & applications agreements & disclosures security faq copyright all rights reserved zions direct privacy policy sitemap find us on search please enter your search keyword above pages documents videos zions direct definitions auction a process allowing investors to place bids which may influence the prices and yields of securities they purchase . bid by price a designation to bid in a securities auction to influence the price of a security . bid by yield a designation to bid in a securities auction to influence the yield of a security . broker call rate interest rate charged by banks on loans made to broker dealers . buy today purchase a security at a set price without participating in an auction . call feature identifies whether or not a bond is callable which means the issuer can buy the bond back prior to maturity . corporate bond a bond issued and backed by a corporation i.e. banks retail chains etc. coupon the annual interest rate that will be paid to the holder of a security expressed as a percentage of the par value . current auctions active auctions in which investors can still place bids . current market clearing price the most recent price in dollars at which a given security was traded . current market clearing yield the most recent yield at which a given security was traded . exchange process fee a fee charged by zions direct which offsets fees imposed by national securities and self regulatory organizations or by u.s. option exchanges . this fee is in addition to commissions charged . fdic insured cd a certificate of deposit that is backed by the federal deposit insurance corporation . first interest date the day the first interest payment will be made . int . accrual date the day on which interest begins to accumulate . int . frequency when or how often interest payment s will be made . i.e. at maturity semi annually issue type indicates the nature of the sale of a given security i.e. primary or secondary issuer the entity offering to sell a security to investors . maturity date the day on which the issuer will return the principal to the investor . municipal bond a bond issued by a municipality to fund public projects like the construction of schools roads hospitals etc. past auctions results from auctions that have already closed . price the actual cost of the security . security an exchangable asset of value including stocks bonds and other financial instruments . settlement date the day an executed trade must be reconciled i.e. the buyer or auction winner must pay for securities obtained . stock an equity security that denotes partial ownership in the issuing company entitling the shareholder to a portion of its income . term the length of time between a security s settlement date and its maturity date . us agencies securities issued by us government organizations . yield the annual interest generated by a security divided by its current market price expressed as a percentage . investment products offered through zions direct a non bank subsidiary of zb n.a. and a member of finra sipc are 1 not insured by the fdic or any federal or state governmental agency are 2 not deposits or other obligations of or guaranteed by zions bancorporation or its affiliates and 3 may be subject to investment risks including the possible loss of principal value or amount invested . bank deposits and certificates of deposit cds are fdic insured up to applicable limits .