A record seven new participants joined the Irish Stock Exchange (ISE) as members in 2005. Four of the new members act as general clearing members -BNP Paribas Securities Services SA, Kas Bank N.V., Man Financial Limited and Pershing Securities Limited.
Two firms joined as equity trading members, Neonet Securities AB and BNP Paribas Arbitrage SNC, bringing the total number of trading members of the ISE to 25.
Although AIB decided to stop acting as a primary dealer in Irish government bonds at the end of 2005, due to the lack of issuance by the National Treasury Management Agency (NTMA), one new firm, Royal Bank of Scotland Plc, joined the ISE as a primary dealer in government bonds during the year.
The relatively modest national debt, and the lack of a funding requirement also hit turnover in government bonds, with the ISE reporting a decline of 29 per cent in 2005, with turnover falling to €51.3 billion. |
