{
  "title": "Primary Dealers in Government Securities",
  "publication": "IMF Special Issues, February 25, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/imf-special-issues/issues/2016/12/31/primary-dealers-in-government-securities-17589",
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  "summary": "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 manag",
  "sections": [
    {
      "heading": "Overview",
      "content": "- 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.\"\n- 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.\n- Publication date: February 25, 2005."
    },
    {
      "heading": "Key analytical themes and findings",
      "content": "- Role of primary dealers:\n  - Discusses the role of primary dealers in government securities markets and public debt management.\n- Rationale, costs, and benefits:\n  - Evaluates the rationale for establishing a primary dealer system and its potential costs and benefits.\n- Operational and technical issues:\n  - Addresses operational and technical issues related to setting up and running a primary dealer system.\n- Market development conditions:\n  - 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.\n- Empirical base:\n  - Analysis is grounded in the \"2001 survey of country practices.\""
    },
    {
      "heading": "Key topics covered",
      "content": "- Selection criteria for primary dealers\n- Obligations and privileges associated with primary dealer status\n- Key prerequisites for establishing a primary dealer system\n- Interaction with open market operations, government debt management, and securities markets\n\n---\n\n Content in this bundle\n\n- Primary Dealers in Government Securities - International Monetary Fund -- February 25, 2005\n  - Primary Dealers in Government Securities - International Monetary Fund -- February 25, 2005 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Primary Dealers in Government Securities - International Monetary Fund -- February 25, 2005 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/imf-special-issues/issues/2016/12/31/primary-dealers-in-government-securities-17589"
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    "Authors: Marco Arnone, Piero Ugolini",
    "Published: February 25, 2005",
    "Series: IMF Special Issues",
    "DOI: https://doi.org/10.5089/9781589063792.058",
    "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.",
    "Role of primary dealers:",
    "Rationale, costs, and benefits:",
    "Operational and technical issues:",
    "Market development conditions:",
    "Empirical base:",
    "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",
    "**Primary Dealers in Government Securities - International Monetary Fund -- February 25, 2005**"
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