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17 October
2005
London – The MTS Group is pleased
to announce the continued development of the covered
bond and Länder segments of its markets, representing
additional opportunities for both dealers and investors.
MTS’s markets have traditionally recognised covered
bonds as a distinct asset class independent of issue
origin and continue to offer the largest available
pool of covered bonds.
EuroCredit MTS, the inter-dealer market for high-quality
covered bonds, recently listed its first Dutch covered
bond, the 21/09/15 3.25% issued by ABN Amro. Seven
market-makers are currently making prices in the bond,
which duly meets the system’s minimum listing
requirement of €2 billion. In addition, the first
Italian covered bond, issued by Cassa Depositi e Prestiti
(31/01/13 3.00%), will be listed on EuroCredit MTS
tomorrow, a development that will take the total number
of quoted securities to 60.
The covered bond segment of BondVision,
MTS’s
dealer-to-client market, has also enjoyed a series
of new issues through the introduction of Austrian,
Dutch, Finnish and Italian covered bonds (minimum size €1
billion) to the market, further extending a portfolio
which represents the largest offering of covered bond
products on any request-for-quote-based system. Liquidity
has been further enhanced through the inclusion of
Goldman Sachs and WestLB in the list of dealers, an
addition that raises the total number of dealers in
the covered bond segment to 19. BondVision has realised
the highest growth of any dealer-to-client platform
for the European covered bond market with monthly volumes
surpassing €1 billion, a 60% growth rate compared
with the previous quarter.
Ziad Awad, Co-head of Syndicate at
Goldman Sachs International, commented: “"We are pleased to provide enhanced
service to our clients on BondVision and to complete
our offer with covered bonds, the fastest growing flow
market in Europe and a key part of our franchise.“
Stefan Hachmeister, Head of Euro
Fixed Income Trading at WestLB, said: “Given WestLB's long-standing
commitment to the covered bond market, joining the
list of dealers was just a natural conclusion in order
to provide an integrated delivery of services over
the whole spectrum of fixed-income instruments through
an innovative distribution channel.”
Meanwhile, in response to client
demand, BondVision has developed a dedicated segment
for Länder securities,
namely securities of the Federal States of Germany.
This segment, officially launched today, has already
attracted 12 liquidity providers and will list all
eligible Länder securities with a minimum outstanding
size of €1 billion.
Carl Norrey, Head of Covered Bonds
and Länder
business at JPMorgan, said: "As the top BondVision
dealer for the second quarter in a row, JPMorgan welcomes
the expansion into niche sectors such as the Länder
market. The enhanced liquidity provided by BondVision
will benefit the end investor."
Länder securities are also listed on the inter-dealer
market of MTS Deutschland.
Notes to Editors
MTS Group
· The
group of MTS companies collectively comprises Europe’s
premier electronic market in fixed-income securities
with average transaction volumes of 85 billion euros
a day (single-counted). The MTS model utilises a
common trading platform, although regulatory responsibility
remains the province of the relevant domestic authorities.
· The group of companies include the following
wholesale markets: EuroMTS, EuroCredit MTS, NewEuroMTS,
EuroGlobalMTS, MTS Quasi-Government Market, Eurobenchmark
Treasury Bills Market, EuroMTS Linkers Market, MTS
Cedulas Market, MTS Amsterdam, MTS Austrian Market,
MTS Belgium, MTS Denmark, MTS Deutschland, MTS España,
MTS Finland, MTS France, MTS Greek Market, MTS Ireland,
MTS Italy, MTS Poland and MTS Portugal.
· The group also includes BondVision, the
Internet-based multi-dealer-to-client platform and
MTSNext, the company that manages the EuroMTS Indices,
the first range of independent, transparent, real-time
and tradable eurozone fixed income indices. Tradable
products on the Telematico markets comprise Austrian,
Belgian, Brazilian, Bulgarian, Chinese, Croatian,
Cypriot, Czech, Danish, Dutch, Finnish, French, German,
Greek, Hungarian, Irish, Italian, Lithuanian, Mexican,
Polish, Portuguese, Romanian, Slovakian, Slovenian,
South African, Spanish, Turkish and Venezuelan government
bonds, quasi government bonds of EIB, KfW, Freddie
Mac and CADES, Pfandbriefe, Obligations Foncières,
Cédulas, Irish ACS and UK covered bonds.
More information is available on www.mtsgroup.org
For further information please contact:
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