EuroGlobalMTS, the market dedicated to the euro-denominated government securities of non-EU member states, announced Monday the value of total transactions to date has now surpassed the EUR1 billion mark.
The turnover is particularly encouraging, MTS said in a news release, given that it is based on the trading activity related to a portfolio of 19 listed securities at year end, with a further four securities qualifying for listing during the first two months of 2006.
Ricardo Moura, general manager of the External Debt Management Office of the Brazilian Ministry of Finance said, “EuroGlobalMTS is proving to be the reference for price discovery on Brazilian euro-denominated debt in the secondary market. The system has been instrumental to our debt management strategy and the transparency it affords has been beneficial to attracting investors, who can now approach this market with an increased level of confidence.”
We are delighted with the success of the EuroGlobalMTS platform, which is demonstrating the benefits of liquidity and transparency of quote-driven electronic markets,” said Memduh Akcay, director general of Foreign Economic Relations for the Turkish Undersecretariat of Treasury. “We look forward to the continuing growth of the market in terms of products, volumes and participants.”
EuroGlobalMTS currently enjoys the support of 17 Market Makers (listed below). In order to qualify for listing, bonds must have a minimum maturity of 15 months, a minimum outstanding size of (i) EUR500 million in respect of Central and Eastern European countries of (ii) EUR750 million in respect of other geographic regions. In addition, each security must be actively supported by at least seven committed market makers.
The growth of this market has been encouraging and we are keen to see this trend continue,” said German Kucerov, director at UBS.