primary dealer

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Primary dealer

Usually refers to the select list of securities firms that are authorized to deal in new issues of government bonds.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Primary Dealer

A firm to and from which the New York Federal Reserve directly sells and buys Treasury securities. That is, primary dealers help the Federal Reserve control the money supply by underwriting Treasury securities and placing them with investors. Primary dealers tend to be well-respected and well-known financial institutions. Merrill Lynch and Citigroup are examples of primary dealers.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

primary dealer

A government securities firm to which the New York Federal Reserve Bank sells directly and from which it buys directly in an attempt to control the money supply. Compare reporting dealers. See also open-market operations.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Among the private participants in the market for government securities are the so-called primary dealers in U.S.
Direct bidders took 12.8%, less than the hefty 19.0% (the most going back to August 2014), with primary dealers accepting 25.3% versus 21.5% previously.
Primary Dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy, including direct participation in open market operations, and Treasury auctions, as well as the provision of market intelligence and analysis to the New York Fed's trading desk.
Stemlight's statement has detailed both the role of the Federal Reserve Bank of New York in this market, including its relationship with the primary dealers, and the circumstances surrounding the disclosures by Salomon Brothers., The Board of Governors of the Federal Reserve System was actively involved in the consultations among regulators during this episode.
On average, banks and primary dealers have borrowed INR462.98bn on a daily basis from the Indian central bank between April and August.
At present there are thirty-nine primary dealers, of which about half are banks or the securities affiliates of banks and half are diversified-or in a few cases specialized-securities firms.
And primary dealers were awarded 32.5%, in line with the prior 31.6%.
BANKING AND CREDIT NEWS-June 18, 2019--Turkish central bank to extend liquidity facility to primary dealers
M2 EQUITYBITES-June 18, 2019--Turkish central bank to extend liquidity facility to primary dealers

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