The Telematico Grey market is the electronic functionality
within Telematico cash which permits the trading of government
bonds for which the issuing agent has announced the auction, but
which have not yet been issued.
Following official communication of the auction or allocation
by the issuing agent, MTS lists the securities on the Telematico
platform. Securities are negotiable on the Grey market only
until the auction is concluded. The settlement date is the
auction settlement date.
The trading of securities admitted to the Grey
market takes place on the basis of the current
secondary market rules of the security group.
Each group, which comprises securities of the
same type, contains the new securities which MTS
considers fit for trading.
This segment allows participants to trade more
transparently and efficiently and represents a
valuable source of information for the issuers.
General Characteristics
All Grey market characteristics - quotes, size,
proposals, orders, rules and auto-matching -
correspond to those of the relevant MTS cash
market. Trading hours and the trading calendar
are also identical. |
