On Monday EuroMTS will launch the MTS Greek Market, a segment dedicated to the trading of Greek government bonds. The launch completes the presence of MTS markets in all 11 eurozone bond markets.
The MTS Greek Market will list all Greek government bonds with a minimum of €2 billion outstanding, complementing the trading of Greek benchmark government bonds already listed on EuroMTS. Turnover on the Greek benchmark segment of EuroMTS rose by 120% to €110 billion* in the first nine months of 2003 as compared to the same period of last year whilst overall volumes for the MTS markets topped €12.78 trillion* an increase of 11%.
“MTS has always endeavored to promote the integration of European bond markets,” says Gianluca Garbi, Chief Executive Officer of EuroMTS. “With the advent of the MTS Greek Market, we move a step closer in this direction as all sovereign debt markets in the eurozone will now be seamlessly connected on one system. The Greek bond market will be more broadly accessible, benefiting both domestic and international investors.”
“The listing of Greek government bonds on a dedicated segment will certainly serve to further improve the already high liquidity of the Greek debt market as well as enhance our links with the wider European financial community,” adds Christoforos Sardelis, Director General of the Public Debt Management Agency.
The MTS Greek Market has already secured the support of 19 Market Makers and 12 Market Takers. 19 issues are currently eligible for trading on the MTS Greek Market. Clearing and settlement of Greek government bonds will be conducted through the National Bank of Greece.