Move comes two years after Davy dropped from similar role
Goodbody Stockbrokers has been named as a primary deal for Irish Government bonds, the National Treasury Management Agency said on Monday.
The addition of Goodbody as a primary dealer “will add to the depth and liquidity of the market and further enhance the profile of Irish Government bonds for investors, the State debt office said in an emailed statement. Goodbody has been an active player in the bond market for some time. It’s naming as a primary dealer comes more than two years after the NTMA dropped rival Davy from the role over a separate scandal which saw a slew of top Davy executives leave the business and the firm ultimately sold to Bank of Ireland.
Primary dealers play a key role in debt auctions, bidding in the issuance of bonds and short-dated bills. They are also market makers in Irish Government bonds on the major electronic trading platforms. Including Goodbody there are 15 primary dealersin the nation’s debt.
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