Primary dealing in banking refers to the process whereby financial institutions buy and sell government securities, such as bonds and treasury bills, directly from BoU to help raise revenues to support government spending.
The practice started in 2005, and following major reforms in 2020, it is limited to eight banks to guarantee subscriptions to primary auctions with added market-making obligations, for increased trading and more efficient pricing, for a three-year period after which the eight banks would be restructured based on performance.
While handing over the award on
"The bank has consistently posted two-way bid-ask pricing across the entire yield curve, as well as trading and reporting trades on Bloomberg. I am therefore pleased to announce
"I thank BoU for the recognition and our global markets team at
Allan Muhinda, the
"We thank our customers because this award is only possible when their experience doing business with us is satisfactory," said Muhinda.
In 2022, secondary market liquidity improved, with trading volume rising 11 per cent to Shs 47.4 trillion in the PDMM year ending
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