Primary Dealers in Government Securities
IMF Special Issues, February 25, 2005
Source details
- Canonical URL
- Primary Dealers in Government Securities
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Bibliographic details
- Authors: Marco Arnone, Piero Ugolini
- Published: February 25, 2005
- Series: IMF Special Issues
- DOI: https://doi.org/10.5089/9781589063792.058
Overview
- Examines the emergence of primary dealer systems, noting that "in the past 10 years a growing number of countries have established or began establishing a primary dealer system."
- Draws on a "2001 survey of country practices" to analyze theoretical, operational, and technical issues related to establishing a primary dealer system within the overall management of public debt.
- Publication date: February 25, 2005.
Key analytical themes and findings
- Role of primary dealers:
- Discusses the role of primary dealers in government securities markets and public debt management.
- Rationale, costs, and benefits:
- Evaluates the rationale for establishing a primary dealer system and its potential costs and benefits.
- Operational and technical issues:
- Addresses operational and technical issues related to setting up and running a primary dealer system.
- Market development conditions:
- 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.
- Empirical base:
- Analysis is grounded in the "2001 survey of country practices."
Key topics covered
- Selection criteria for primary dealers
- Obligations and privileges associated with primary dealer status
- Key prerequisites for establishing a primary dealer system
- Interaction with open market operations, government debt management, and securities markets
Content in this bundle
- Primary Dealers in Government Securities - International Monetary Fund -- February 25, 2005