UBS becomes a Primary Dealer in Irish Government Bonds
The Irish Stock Exchange (ISE) has approved UBS Limited (“UBS”) as a Primary Dealer in Irish Government Bonds. This brings to 13 the number of Primary Dealers which are member firms of the Exchange. The main role of the Primary Dealer is to continuously make markets in Irish Government bonds as well as participating in auctions organised by the National Treasury Management Agency.The admission of UBS as a Primary Dealer is an extension of UBS’s existing trading activities on the ISE, where it has been an active participant in the trading of equities and ETFs on the Exchange’s electronic trading platform, ISE Xetra, since 2007.
Commenting on the extension of their membership activities on the Irish Stock Exchange, Paolo Croce, Global Head of Government Bonds at UBS Investment Bank in London, said "UBS is delighted to extend its membership of the Irish Stock Exchange in order to become a Primary Dealer in the Irish Government Bond market. We have been a very active supporter of Ireland's debt markets over many years and have been a counterpart in the Irish Treasury Bill market since its inception earlier this year. We are demonstrating our commitment to Ireland yet further by becoming a full Primary Dealer across Government Bills and Bonds. Our global investor base has a healthy appetite for investing in Irish debt and we are keen to ensure that we help Ireland reach the widest possible investor community."
Nomura to commence equity trading on the ISE
Nomura International plc (Nomura), an existing Primary Dealer on the ISE, is also broadening its activities on the ISE to include the trading of equities and ETFs. This will further deepen liquidity on and flows to the Exchange’s order book and brings international players to 61% of the total number of firms directly trading on the Irish equity market.
Brian Healy, Director of Traded Markets, Development, Operations at the Exchange said “We are delighted that two prominent international players, UBS and Nomura, have decided to expand their trading activities on the Irish Stock Exchange. The admission of UBS as a Primary Dealer in the Irish fixed income market is another positive development which highlights the continuing international interest in Irish Government bonds. The commencement of equity trading by Nomura on our ISE Xetra platform represents a significant new source of direct orderflow to the electronic orderbook and continues the internationalisation of the ISE’s membership to the benefit of all participants in the Irish equity market.”
