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Primary Dealers

Primary Dealers System

An electronic system was developed by EGX to operate the Primary Dealers System. Pricing rules follow international standards using the Clean Price. In addition, the yield to maturity, the current yield, the duration and the accrued interest are calculated automatically.

The Primary Dealers System is linked electronically to the primary dealers, custodians and Misr for Central Clearing, Depository and Registry (MCDR), to guarantee the availability of the bonds that are to be sold.

The Primary Dealers System was introduced to activate the bond market and enhance its liquidity, reduce the cost of borrowing for the government and provide the Central Bank with financial tools that would facilitate its intervention in the secondary market via open market operations.

Primary dealers' main functions are to underwrite the initial offering of the government securities in the primary market and to act as market makers in the secondary market.

List of Primary Dealers
   Primary Dealers As of  18/08/2017
1Qatar National Bank AL Ahli
2Export Development Bank of Egypt
3Barclays Bank - Egypt (S.A.E)
4HSBC Bank-Egypt
5National Bank of Egypt
6Citibank
7Banque Misr
8Banque du Caire
9Bank of Alexandria
10Arab African Bank
11Misr Iran Development Bank
12Credit Agricole Egypt
13Commercial International Bank- Egypt
14Arab Bank Ltd
15Suez Canal Bank
 
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