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 Primary Dealers |
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Primary Dealers System
An electronic trading system was developed by EGX to operate the Primary Dealers System through which the trading is conducted according to 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) Company.
The Primary Dealers System was introduced to activate the bond market and enhance its liquidity, in addition to reducing the cost of borrowing for the government and providing 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.
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| Primary Dealers As of 29/05/2023
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| 1 | National Bank of Egypt |
| 2 | HSBC Bank-Egypt |
| 3 | Citibank |
| 4 | Banque Misr |
| 5 | Banque du Caire |
| 6 | Bank of Alexandria |
| 7 | Arab African Bank |
| 8 | MIDBANK S.A.E |
| 9 | Credit Agricole Egypt |
| 10 | Commercial International Bank- Egypt |
| 11 | Arab Bank Ltd |
| 12 | Export Development Bank of Egypt |
| 13 | Suez Canal Bank |
| 14 | Qatar National Bank AL Ahli |
| 15 | Egyptian Gulf Bank |
| 16 | Barclays Bank - Egypt (S.A.E) |
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