According to the new Rules and Regulations governing the Activities of the Treasury Securities Dealer for the year 2005, issued by the Ministry of Finance (MoF) on November 19th, 2004, both domestic and foreign banks or credit institutions may apply for the status of a Treasury Securities Dealer.
Foreign banks may file their applications with MoF until November 29th, 2004 in order to participate in an application process in 2005. MoF will grant successful applicants a Treasury Securities Dealer Status allowing for participation in T-bills and T-bonds auctions organised in 2006, according to a BA-CA HVB Custody news release.
Foreign applicants are required to have a status of a Treasury Securities Dealer in at least one OECD country. Furthermore they will have to become a participant of MTS Poland, a new market for debt instruments, which is expected to start its operations on November 25th, 2004.
An annual assessment will be based on the trading activity on both inter-bank and MTS Poland markets.