March 19, 2009 12:47 ET

Nomura Announces UK Gilts Primary Dealer Status

LONDON, UNITED KINGDOM--(Marketwire - March 19, 2009) -

Notes to editors: Nomura is the first new Gilt Edged Market Maker since August 2006.

Nomura, the global investment bank, announced today that it has been recognized as a Gilt-Edged Market Maker (GEMM) by the UK Debt Management Office and the London Stock Exchange, with effect from the opening of business on Monday 23 March 2009.

Nomura is the only Asian-based investment bank to currently hold this status and will bring the total number of primary dealer firms in the UK government bond market to sixteen. As a GEMM, Nomura will be able to participate in the UK's Gilt auctions and act as a market maker for both conventional and index-linked gilts.

The UK Government's gilt issuance program has increased significantly over the past two years with planned gilt sales for 2008-09 rising to Pounds Sterling 146.4bn from Pounds Sterling 58.5bn in 2007-08, according to data from the UK Debt Management Office. The reduced liquidity of capital markets as a whole since the onset of the global downturn has increased the importance of AAA rated Government bonds for all investors, who view these securities as having less primary issuance risk.

Nomura's ability to participate directly in these auctions will add significantly to its franchise in the sterling-denominated fixed income market. "Providing our clients with direct and liquid access to this significant debt market will add a considerable facility to our Fixed Income platform," said Kieran Higgins, Co-Head of Fixed Income, Europe, Middle East and Africa at Nomura. "This is an exciting step forwards for Nomura," added Mr. Higgins.


Nomura is a leading financial services group and the pre-eminent Asia-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in 30 countries. Based in Tokyo with regional headquarters in Hong Kong, London, and New York, Nomura employs about 26,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through five business divisions: domestic retail, global markets, global investment banking, global merchant banking, and asset management. For further information about Nomura please visit

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