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ING exits primary dealer role in Slovenian government bonds
March 16, 2017 / 12:06 PM / 6 months ago

ING exits primary dealer role in Slovenian government bonds

LONDON, March 16 (Reuters) - Dutch bank ING said on Thursday that it is no longer a primary dealer for Slovenia, the latest in a string of banks to have stopped making markets for certain European government bonds.

In an emailed statement to Reuters, a spokesperson for the bank said: “As of 2017, ING is no longer a primary dealer for Slovenian government bonds.”

The number of primary dealers across European bond markets has been declining as increased regulation since the 2008 financial crisis and massive bond-buying by central banks for monetary stimulus has weighed on bond-market trading volumes.

The Association for Financial Markets in Europe (AFME) said in a report on Wednesday that the average number of primary dealers in the European Union has fallen to around 18 from around 23 in 2006. (Reporting by John Geddie; Writing by Dhara Ranasinghe; Editing by Larry King)

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