cfX prepares Redemption Workbooks for its clients that designate the bond redemptions required by various agency contracts such as PAC bonds, 10-Year Rule Requirements and NIBP Contract provisions. The Workbooks also provide alternative redemption strategies – high-to-low by coupon, high-to-low adjusting for volume cap constraints and show the Optional Redemption Candidates that are available contemporaneously with the Special Redemptions as well as the value of alternative strategies such as recycling. The determination of the maximum amount of Replacement Refunding candidates is especially important in today’s volume cap-constrained environment and, in multiple ways helps to optimize agency financial performance.