Primary Dealers have contributed to the growth of the securities market by ensuring high demand during primary market auctions. In 2015, the ratio of Primary Dealer successful bids in the primary auction relative to the rest of the market was 61.33 percent.
While we had some under subscriptions at the beginning of this financial year, the auction bid to cover ratio of Treasury bills and bonds for the calendar year 2015 was recorded at an average of 1.21; indicating that demand for government securities remains significant. Primary Dealers have also continued to enhance liquidity in the secondary market.