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New member firm on ISE Back  
CCF S.A., the French subsidiary of banking group HSBC, has been admitted to membership of the Irish Stock Exchange as a primary dealer in Irish government bonds, bringing the number of primary dealers up to eight.

CCF S.A., which uses HSBC CCF as its main trading name, commenced trading on Monday, 18th October. HSBC CCF intends to deal with market professionals and on its own account on a principal basis.

The primary dealers bid in competitive auctions of Irish government bonds organised by the National Treasury Management Agency and make a two-way market in the bonds at all times. They are also market makers in Irish government bonds on the major electronic trading platform, EuroMTS and on the Irish segment of that platform, MTS Ireland.

The seven other primary dealers are as follows: ABN AMRO, London; AIB Capital Markets, Dublin; Barclays Capital, London; Calyon, Paris; Citigroup Global Markets, London; Davy Stockbrokers, Dublin; Deutsche Bank, Frankfurt.

Commenting on the new admission, the NTMA said that that they expect that HSBC CCF, with its extensive network of offices, will further enhance the depth and liquidity of the Irish government bond market. HSBC CCF is already a market maker for Irish government bonds on the EuroMTS electronic trading platform and the NTMA is confident that the recognition of HSBC CCF as a primary dealer will give additional impetus to this and further heighten the profile of Irish government bonds for investors in the euro area bond market.

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