Start of MTF Government Bonds Trading

Slovakia
UniCredit Bank Czech Republic and Slovakia, a.s., pobočka zahraničnej banky
Summary: 
The Debt and Liquidity Management Agency successfully implemented MTS Slovakia, an electronic platform for secondary trading of Slovak government bonds
Mon, 19/02/2018

 

Today, 19 February 2018, the Debt and Liquidity Management Agency of the Slovak Republic, ARDAL, launched MTS Slovakia, an electronic trading platform for Slovak government bonds. The respective government bond issues were included into the reference platform MTS Cash Domestic Market Multilateral Trading Facility operated by EuroMTS Limited, where bonds of other developed countries are also traded.

As a result, participants will benefit from equal access to tradable prices, which are the result of mutual contribution to quote-driven price discovery, while investors will benefit from visibility over the interdealer price discovery process through quote vendors, enabling effective investment choices and increased confidence in the securities. At the same time, ARDAL and the Ministry of Finance gain access to detailed, accurate and objective data on Primary Dealer performance.

Securities
Included are all Government Bonds and Treasury Bills in EUR issued by the Slovak Republic acting through the Ministry of Finance represented by ARDAL.

Participants
Participants have to enter into an agency contract with ARDAL on Primary Dealership of Slovak Government Securities. All participants are classified as Market Makers.

Committee
Decisions taken by MTS pursuant to the MTS Cash Domestic Market Rules are made upon prior consultation with the Committee and ARDAL. The Committee consists of representatives of MTS, ARDAL and the Primary Dealers.

Trading days
As defined by the TARGET calendar, except for Slovak Banking Holidays.

Trading hours (CET):
Pre-Market phase: 8:15 - 8:45
Offer phase: 8:45 - 9:00
Open Market phase: 9:00 - 17:00
Closed Market phase: 17:00 - 8:15

Settlement
Performed by the Central Securities Depository of tge Slovak Republic through T2S using T+2 settlement cycle.

Further technical details are available through MTS Annex Slovakia as well as by ADRAL.

 

Impact on investors: Increased liquidity and price transparency for investors when trading Slovak government securities on the secondary market through MTS.