PRIMARY DEALER AGREEMENTS

19.03.25
PRIMARY DEALER AGREEMENTS

The Minister of Finance and Economic Affairs tasks the Central Bank of Iceland’s Government Debt Management department with concluding primary dealer agreements on issuance of Treasury securities and market making in the secondary market.

 

Resident entities that have an operating licence in accordance with Article 4, Paragraph 1 of the Act on Financial Undertakings, no. 161/2002, that have the equipment needed to participate in Treasury securities auctions and can demonstrate a secure settlement of transactions through the Central Bank of Iceland, may request to be parties to the agreement.

 

Primary dealers have the exclusive right to submit bids at regular auctions where Treasury securities are offered. They also receive access to special facilities such as repurchase agreements for government bonds, in accordance with the relevant rules and the applicable terms and conditions.

 

Primary dealers act as market makers for government bonds and are obliged to submit bid and ask quotes for a certain minimum amount in each series of government bonds, in accordance with the bid-ask maximum spread specified in the agreement.

 

Further information can be found in the attached sample primary dealer agreement. Those parties wishing to become primary dealers in Treasury securities are requested to send digitally signed agreements to the Government Debt Management department at the Central Bank of Iceland before 16:00 hrs. Friday 21 March 2025.

 

Further information can be obtained from Björgvin Sighvatsson, Head of Government Debt Management, at tel +354 569 9600.

Sample of Agreement (pdf)

Til baka

Aðrar fréttir

Jul 16 2025
Treasury Bonds
Treasury Bond Auction Announcement - RIKB 27 0415 - RIKS 29 0917 - Switch Auction or Cash
Series RIKB 27 0415 RIKS 29 0917
ISIN IS0000036291 IS0000037711
Maturity Date 04/15/2027 09/17/2029
Auction Date 07/18/2025 07/18/2025
Settlement Date 07/23/2025 07/23/2025
10% addition 07/22/2025 07/22/2025
 
Buyback issue RIKS 26 0216  
Buyback price (clean) 98.1600  

On the Auction Date, between 10:30 a.m. and 11:00 a.m., the Government Debt Management will auction Treasury bonds in the Series, with the ISIN numbers and with the Maturity Dates according to the table above. Article 6 of the General Terms of Auction for Treasury bonds applies for the right to purchase an additional 10%. The Treasury bonds will be delivered in electronic form on the Settlement Date.

Payment for the bonds can be made in cash or with the Buyback issue at the Buyback price.

Payment in cash for the Treasury bonds must be received by the Central Bank before 14:00 on the Settlement Date. If payment is made with the Buyback issue, a notification of the amount must be received no later than by 14:00 on the Auction Date. In that case, the value of the Buyback bond is determined by the Buyback price plus accrued interest and indexation (i.e. dirty price).

No fee is paid in relation to the purchase of RIKS 26 0216.

Further reference is made to the description of the Treasury bond and the General Terms of Auction of Treasury Bonds.

For additional information please contact Tryggvi Freyr Harðarson, Government Debt Management, at +354 569 9630.
Jul 10 2025
Treasury Bills
Treasury Bill Auction Announcement - RIKV 25 1119
Series RIKV 25 1119
ISIN IS0000037547
Maturity Date 11/19/2025
Auction Date 07/14/2025
Settlement Date 07/16/2025

On the Auction Date, between 10:30 am and 11:00 am, the Government Debt Management will auction Treasury bills in the Series, with the ISIN number and with the Maturity Date according to the table above. Payments for the Treasury bills must be received by the Central Bank before 14:00 on the Settlement Date and the Bills will be delivered in electronic form on the same day.

Further reference is made to the General Terms of Icelandic Treasury bills and General Terms of Auction for Treasury bills on the Government Debt Management website.

For additional information please contact Magnús Freyr Hrafnsson, Government Debt Management, at +354 569 9679.