Share Name | Share Symbol | Market | Type |
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OTP Bank Ltd (PK) | USOTC:OTPIY | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 28.10 | 31.45 | 0.00 | 21:01:36 |
By Margit Feher
BUDAPEST--Jefferies International Ltd. and J.P. Morgan Securities PLC have joined the group of banks that are primary dealers of Hungarian government securities denominated in the local currency, the forint, Hungary's state debt management center, known as AKK, said Wednesday.
Jefferies and J.P. Morgan will be primary dealer candidates until June 30, the AKK said on its website, and they could become full members after six months.
Primary dealers buy government securities directly from the AKK to resell them to other investors, making them market-makers.
In the second half of 2012, the top five primary dealers based on the volume of Hungarian government bonds bought were Citibank Europe PLC, part of Citigroup, ING Bank N.V., Deutsche Bank AG, BNP Paribas SA and Hungary's largest retail bank OTP Bank Nyrt., the AKK also said.
Jefferies was one of the lead managers in December of Hungarian state-owned Export-Import Bank, or Eximbank Zrt.'s, $500 million five-year bond issue, which had attracted $2.2 billion in bids.
Write to Margit Feher at margit.feher@dowjones.com
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