EuroGlobalMTS, the market dedicated to the euro-denominated government securities of non-EU member States, is pleased to announce that the value of total transactions to date has now surpassed the €1 billion mark.
The turnover is particularly encouraging, given that it is based on the trading activity related to a portfolio of 19 listed securities at year end, with a further four securities qualifying for listing during the first two months of 2006.
Ricardo Moura, General Manager of the External Debt Management Office of the Brazilian Ministry of Finance said: "EuroGlobalMTS is proving to be the reference for price discovery on Brazilian euro-denominated debt in the secondary market. The system has been instrumental to our debt management strategy and the transparency it affords has been beneficial to attracting investors, who can now approach this market with an increased level of confidence."
Memduh Akcay, Director General of Foreign Economic Relations for the Turkish Undersecretariat of Treasury, said: "We are delighted with the success of the EuroGlobalMTS platform, which is demonstrating the benefits of liquidity and transparency of quote-driven electronic markets. We look forward to the continuing growth of the market in terms of products, volumes and participants."
EuroGlobalMTS currently enjoys the support of 17 Market Makers (listed below). In order to qualify for listing, bonds must have a minimum maturity of 15 months, a minimum outstanding size of (i) € 500 million in respect of Central and Eastern European countries of (ii) € 750 million in respect of other geographic regions. In addition, each security must be actively supported by at least seven committed market makers.
German Kucerov, Director at UBS, said: "The growth of this market has been encouraging and we are keen to see this trend continue."
Gianluca Garbi, CEO of EuroMTS said: "We are pleased that EuroGlobalMTS is already contributing to the efficiency and transparency of global Eurobonds and look forward to continuing to develop and promote these debt markets, in the same way as EuroMTS has served the eurozone government bond market."