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Danish government bonds are traded on a series of electronic trading platforms such as Bloomberg, BondVision, ICAP/BrokerTec, MTS Denmark, NASDAQ OMX Copenhagen and TradeWeb.
A group of banks have entered into a primary dealer contract with Government Debt Management regarding ongoing market making. The market making contributes to a transparent and well-functioning market for Danish government securities. The market making is performed on the platform(s) chosen by the primary dealers. In 2012, the group of primary dealers has chosen to perform market making on MTS Denmark.
| Primary dealers in government bonds | Primary dealers in T-bills | Market takers |
| Barclays | Danske Bank | Bank of America Merrill Lynch |
| BNP Paribas | Nordea | Citigroup |
| Danske Bank | Nykredit Bank | DZ Bank |
| Deutsche Bank | SEB | Jyske Bank |
| HSBC | Sydbank | Nomura |
| J.P. Morgan |  | Royal Bank of Scotland |
| Morgan Stanley | | |
| Nordea | | |
| Nykredit Bank | | |
| SEB | | |
| Spar Nord Bank | | |
| Sydbank | | |
Infrastructure in Danish government securities market in 2012
On an annual basis the primary dealers evaluate the infrastructure in the market maker scheme on the basis of a report prepared by the primary dealer group. Each year it is decided on which platform(s) market making is undertaken the following year. The primary dealers have decided that market making in 2012 will be undertaken on MTS Denmark. The main elements from the primary dealers' report and the conclusions regarding the infrastructure of the secondary market are published in "Infrastructure in Danish government securities market in 2012" available in the sidebar "more information" on the right.
Price-quoting system on NASDAQ OMX
Government Debt Management has established a price-quoting system on NASDAQ OMX with four banks. Through the price-quoting system, investors have ongoing acces to pre-trade information for Danish government securities. Members of the bond sub-segment on NASDAQ OMX can trade directly with the price quoters. In addition, other investors, via their bankers, have access to submitting orders in the trading system, which enables minor investors to trade directly in a transperant market.
| Market makers on Nasdaq OMX in Danish government bonds |
| Danske Bank |
| Nordea |
| Nykredit Bank |
| Sydbank |
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