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Jefferies quits as retail market maker for UK gilts: DMO

Published 21/01/2022, 15:53
Updated 21/01/2022, 15:55
© Reuters. FILE PHOTO: General view of Jefferies Financial Group offices in Manhattan, New York City, U.S., December 8, 2021. REUTERS/Eduardo Munoz

LONDON (Reuters) - Britain's Debt Management Office said U.S. investment bank Jefferies International had resigned as a market maker for British government bonds in the retail market.

The move will take effect from the close of business on Friday, the DMO said.

© Reuters. FILE PHOTO: General view of Jefferies Financial Group offices in Manhattan, New York City, U.S., December 8, 2021. REUTERS/Eduardo Munoz

Jefferies' resignation leaves the DMO with two other retail market makers: TD and Winterflood, who are charged with selling gilts to a retail audience.

The DMO has 15 banks who act as primary dealers for institutional investors.

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