Private investors may via their bank or broker place orders in the trading system for all Danish government bonds. The size of an order may be as little as 1 øre. Orders for DKK 1,000 in nominal terms or more, which are placed directly in the trading system, may help fix the price. A buy order may be executed in full or in part, once a sell order at the same price or a better price is placed in the system, and vice versa. The trades are concluded via automatic match, which is also used in connection with share trading. The bonds may be traded from 8:30 to 17:00, when the trading system is open.
CFO Jan Ovesen said: "It is a new and unique possibility for private investors, when they on 1 December will be able to place orders for Danish government bonds in the Exchange's trading system in the same way as when they conclude transactions in shares."
To ensure a smooth retail market, six exchange members will currently quote two-way prices in the most popular government bonds in the Exchange's trading system from 9:00 to 16:30.
The private investors will be able to trade at sharp prices as a maximum difference between the buying price and the selling price - the so-called spread - has been fixed at somewhere between 15 and 30 ører.
The spread is narrower for the government bonds which have a term to maturity of between 13 months and 3½ years and wider for securities with a term to maturity of more than 13½ years. Newly opened government bonds will currently be included in the market maker scheme, whereas securities with a term to maturity of less than 13 months will not be included.
| Term to maturity | Name | Maximum spread |
| 13 months – 3½ years |
5% Bullet loan 2005 4% Treasury note 2005 8% Bullet loan 2006 7% Bullet loan 2007 |
DKK 0.15 |
| 3½ years – 6½ years | 4% Bullet loan
2008
6% Bullet loan 2009 |
DKK 0.20 |
| 6½ years – 13½ years | 6% Bullet loan
2011
5% Bullet loan 2013 |
DKK 0.25 |
| > 13½ years | 7% Bullet loan 2024 | DKK 0.30 |
The six market makers will each quote prices for a minimum of DKK 3 million in nominal terms, consequently, there will be prices in the trading system for a minimum of DKK 18 million.
The following six members are market makers in Danish government bonds
| Amtssparekassen Fyn | Nordea |
| Danske Bank | Nykredit |
| Jyske Bank | Sydbank |
The Copenhagen Stock Exchange will monitor the market to make sure that two-way prices are quoted throughout the day in the bonds that are supported by a market maker.
