Invitation to be a primary dealer in 2020
Norges Bank, Government Debt Management, invites all banks and brokerages that are members of Oslo Børs to apply to be a primary dealer in Norwegian Treasury bills and government bonds for 2020. The application deadline is 2 pm on Tuesday, 17 December 2019.
The agreements for 2020 and Master Agreement relating to repurchase agreements are published on www.debtnorway.no.
Primary dealers in Norwegian government securities have the obligation and the exclusive right to participate in auctions of issues or increases of the bonds or bills covered by the agreement. Primary dealers are required to quote prices and volumes for government securities, which are listed on Oslo Børs. Primary dealers shall contribute to active sales of bonds or bills in the primary market and to creating liquidity in the secondary market. Only primary dealers may enter into repurchase agreements in government securities from the government’s own stock.
Applications to be a primary dealer shall be submitted electronically to Norges Bank – Government Debt Management at the email address firstname.lastname@example.org. In addition to signed primary dealer agreements, the following shall be attached to the application:
- An organisational chart or similar overview showing the organisation of primary dealer activities, including the sale of government securities. The chart shall make clear who is authorised to make decisions with direct influence on the entity’s role as primary dealer.
- A complete list of persons in the entity’s organisation who are authorised to enter into repurchase agreements and submit bids at auctions, their email addresses and telephone.
- A signed Master Agreement relating to repurchase agreements if the applicant has not entered into such an agreement previously.