June 20, 2014
Citi Hungary was named the “Primary Dealer of the Year in 2013” by the Hungarian Government Debt Management Agency (ÁKK) for the third consecutive year.
In addition to this accolade, Citi Hungary’s Markets team was also named the “Primary Dealer with the highest primary market share in 2013 regarding Hungarian government bonds” for the second consecutive year. In addition, Citi was also recognized as primary dealer with the second highest secondary market share and the second most active repo partner of ÁKK in 2013.
Aftab Ahmed, Citi Country Officer for Citi Hungary said, “As part of a unique global institution with an unmatched history of more than 200 years, Citi has been a longstanding partner of the Government of Hungary in attracting international investors from around the globe and supporting its endeavor to get access to the capital markets. We greatly appreciate this award by which the government is recognizing Citi Hungary’s outstanding overall performance in the sovereign debt market in 2013.”
Roman Kovac, Head of Markets in Hungary added, “Winning this honor based on a number of benchmarks, including primary market share, repo activity with the debt management agency, buyback auction activity and secondary market turnover – all of which represent a commitment to the sovereign debt market and our clients in Hungary.”
Primary dealers play a key role in providing sovereign financing for the central budget. ÁKK continuously monitors primary dealers’ performance, based on which it draws up the annual league table and recognizes the best performers in various categories. ÁKK launched this award program in 1997.
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