Primary Dealers in Government Securities
Primary Dealers in Government Securities

Author: Mr.Marco Arnone

Publisher: International Monetary Fund

Published: 2003-03-01

Total Pages: 66

ISBN-13: 1451846495

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In many countries, authorities have designated a group of financial firms as the principal intermediaries in the government securities market-referred to as "primary dealers" or a "primary dealer system." This paper discusses policy issues related to the establishment of a primary dealer system for countries that may be considering taking this step. In this regard, a key issue is whether a primary dealer system fits into the overall strategy for financial market development in the country. Under a primary dealer system, the debt manager and the group of primary dealers pursue a common strategy in support of the effective functioning and development of primary and secondary markets for government securities. This paper presents results of a survey of country practices conducted in early 2001. Among the countries surveyed, there was broad agreement among authorities that a primary dealer system is to be highly recommended.

Primary Dealers in Government Securities
Primary Dealers in Government Securities

Author: Mr.Marco Arnone

Publisher: International Monetary Fund

Published: 2005-02-25

Total Pages: 104

ISBN-13: 9781589063792

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In the past 10 years a growing number of countries have established or began establishing a primary dealer system. This paper discusses the role of primary dealers, as well as theoretical, operational, and technical issues related to the establishment of a primary dealer system, in the overall management of public debt for countries that may be considering taking this step. Drawing on a 2001 survey of country practices, the paper discusses the rationale, costs and benefits, and key prerequisites, as well as selection criteria, obligations, and privileges of a primary dealer system. It also attempts to determine the conditions under which a primary dealer system would make a positive contribution to the functioning and development of the government securities market.

Primary Dealers in Government Securities
Primary Dealers in Government Securities

Author: G. Iden

Publisher:

Published: 2006

Total Pages: 65

ISBN-13:

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In many countries, authorities have designated a group of financial firms as the principal intermediaries in the government securities market-referred to as primary dealers or a primary dealer system. This paper discusses policy issues related to the establishment of a primary dealer system for countries that may be considering taking this step. In this regard, a key issue is whether a primary dealer system fits into the overall strategy for financial market development in the country. Under a primary dealer system, the debt manager and the group of primary dealers pursue a common strategy in support of the effective functioning and development of primary and secondary markets for government securities. This paper presents results of a survey of country practices conducted in early 2001. Among the countries surveyed, there was broad agreement among authorities that a primary dealer system is to be highly recommended.