US brokerage Cantor Fitzgerald has been approved as a primary dealer in Irish Government bonds, the National Treasury Management Agency said today.
“The NTMA expects that [Cantor Fitzgerald] joining the primary dealer group will add to the depth and liquidity of the market and further enhance the profile of Irish Government bonds for investors,” the agency said in a statement.
Cantor Fitzgerald, which bought Dublin-based Dolmen Stockbrokers last year, is already an active participant in the Irish bond market. Its addition to the list brings to 18 the number of primary dealers of Irish Government bonds.
Primary dealers have the right to trade bonds on issue from the NTMA and are also market makers in such bonds on major electronic trading platforms.
Cantor Fitzgerald said it looked forward to making a strong contribution to the global distribution of Irish primary bonds.
"Our fixed income clients have been impressed with the great strides made by the Irish Government both in restructuring the country's finances and returning to the debt capital markets," the chief executive of Cantor Fitzgerald Ireland, Ronan Reid, said.
It joins firms such as Barclays Capital London, Goldman Sachs, Merrill Lynch, Davy and Danske Banks as primary dealers of the bonds.
