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.
2.1 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 Minimum lots
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)
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)
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
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
Market Hours (CET)
Pre-Market: 7:30am – 8:00am
Trading Hours: 8:00am – 5:30pm
Market Closed: 5:30pm
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.
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 plc
ING Bank NV
KBC Bank N.V.
Nordea Bank ABP
Nykredit Bank A/S
Scandinaviska Enskilda Banken AB
UBS Europe SE
7 Market Data
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7.1 Password protected
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T: +32 2 210 69 00
T: +32 2 210 69 00
Jurgen De Corte
T: +32 2 210 69 02
T: +32 2 210 69 03
Legal address: Rue des Comédiens, 22 – 1000 Brussels
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