Belgium

  • Belgium


1 Country overview


MTS Belgium, a division of MTS Associated Markets, has been established for the purpose of trading Belgian sovereign securities.


MTS Associated Markets SA/NV, operates under the supervision of the National Bank of Belgium (NBB).


Shares in MTS Associated Markets SA/NV are held by the list of banks mentioned under item number 6 - Shareholders Institutions.


A Board of Directors, elected by the shareholders, governs MTS Associated Markets SA/NV.


2 Instruments

2.1 Obligation Linéaires (OLOs)


OLOs are medium and long- term debt securities denominated in euro and issued in dematerialized form.


OLOs are issued in tranches, which form a line. Each line has an identical nominal interest rate and maturity. OLOs are issued through a multiple price based auction or alternatively through a syndication and are reimbursed at par.


Currently, OLO securities ranging from 0 to 50 years maturity are traded on MTS Belgium, though only the securities with a maturity longer than 1 year are subject to quoting requirements.

2.2 Belgian Treasury Certificates (BTCs)


BTCs are short-term bills with maturities up to maximum one year.


They are denominated in euro and issued in dematerialized form normally through yield- based auctions.

2.3 BFS (Belgian Fungible Strips)


BFS are bonds which nominal value corresponds to the redemption value of the original OLO.


For a full list of available instruments, 
click here.


2.4 BFR (Belgian Floating Rates)


BFR are variable interest-bearing public government bonds


2.5 BFS (Belgian Fungible Strips)


BFS are bonds which nominal value corresponds to the redemption value of the original OLO.


For a full list of available instruments, click here.


2.6 Minimum lots

OLOs


Depending on the bucket, proposals must be formulated for a minimum quantity equal to EUR 5 or EUR 10 million for benchmark securities and EUR 2.5 or EUR 5 million for liquid securities.


Orders may be made for EUR 2.5 million or multiples of EUR 0.5 thereof (i.e. 3, 3.5 etc)


BTCs


Proposals must be formulated for at least a minimum quantity of EUR 10 million. Orders may be made for EUR 2.5 million or multiples of EUR 0.5 thereof (i.e. 3, 3.5 etc)


BPOs


Proposals must be formulated for at least a minimum quantity of EUR 2.5 million. Orders may be made for EUR 2.5 million or multiples of EUR 0.5 thereof (i.e. 3, 3.5 etc)


BFRs


Proposals must be formulated for at least a minimum quantity of EUR 2.5 million Orders may be made for EUR 2.5 million or multiples of EUR 0.5 thereof (i.e. 3, 3.5 etc)


BFSs


Proposals must be formulated for at least a minimum quantity of EUR 1 million. Orders may be made for EUR 1 million or multiples of EUR 0.5 thereof (i.e. 3, 3.5 etc


3 Participants

For a list of participants, click here.


3.1 Participant requirements

Market makers other than Primary Dealers of Belgian State must have net assets of at least EUR 250 million. Institutions that are not Primary Dealers of the Kingdom of Belgium and that wish to participate in the system as market makers will be asked to demonstrate a significant turnover in Belgian government securities.


Market takers must have net assets of at least EUR 40 million and demonstrate a total turnover in Belgian government bonds of no less than EUR 300 million over the previous twelve months.

4 Market Hours

Cash

Market Hours (CET)


Pre-Market: 7:30am – 8:00am


Trading Hours: 8:00am – 5:30pm


Market Closed: 5:30pm


5 Settlement

Trades on Belgian Government bonds settle at National Bank of Belgium (NBB-SSS). MTS sends Swift settlement instructions on behalf of both participants to NBB-SSS. MTS participants must hold a securities account at NBB-SSS either directly or indirectly through a custodian.


LCH SA is available as a Central Counterparty: for CCP transactions MTS sends Swift trade messages on behalf of both participants to LCH SA


The settlement cycle is T+2. The settlement calendar follows the TARGET calendar skipping value date only on TARGET non-business days.

6 Shareholders

Barclays Unquoted Investments Limited


Belfius Bank SA

BNP Paribas Fortis SA


Citigroup Global Markets Ltd


Credit Agricole Corporate and Investment Bank

Danske Bank A/S


Deutsche Bank AG

HSBC Continental Europe


JP Morgan Securities Limited


ING Bank NV


KBC Bank N.V.


MTS S.p.A.


Nordea Bank  ABP


Nykredit Bank A/S


Scandinaviska Enskilda Banken AB


Société Générale


Sydbank A/S


UBS Europe SE

7 Market Data

Click to view:


Daily bulletins

7.1 Password protected

Click to view:


Participant statistics

8 Contact

Aline Morley

Relationship Management


T: +32 2 210 69 00


Paolo Senes


Chairman


T: +32 2 210 69 00


Jurgen De Corte


Executive Director


T: +32 2 210 69 02


Jean-Pierre Mateza


Associate


T: +32 2 210 69 03


Legal address: Rue des Comédiens, 22 – 1000 Brussels


Group email address: mtsam@mtsam.com


Fax: +32 2 217 84 70