KNews.id- The performance of PT. Bank Rakyat Indonesia (Persero) Tbk (BBRI) in the bond market won an award from the Indonesian Ministry of Finance. The Company won first rank as Primary Dealer in the primary market, first rank as primary dealer in the secondary market, as well as an award as the best performing primary dealer during 2019.
"We are very grateful for this award given. This award is a motivation for us, as primary dealers to continue to produce positive performance, "said Senior Executive Vice President of Treasury & Global Services BRI, Listiarini Dewajanti in a statement in Jakarta, Monday (21/12).
Primary Dealer, or primary dealer, is a bank appointed by the Minister of Finance to carry out certain obligations both on the primary market and secondary market for SUN, both in rupiah and in foreign currencies with certain rights. The most important function of the primary dealer is to act as market movers or market makers in the secondary market.
This Primary Dealer has various rights, including: exclusive access as an auction participant in the primary and secondary markets, the exclusive right to obtain first-hand information about the government SUN management program.
Dealers are also obliged to absorb a certain amount of SUN on the primary market, trade SUN series that has been set by the government as a benchmark, and make bid-offer quotes with a certain spread range.
As the Main Dealer, BRI participates in financial market deepening activities by carrying out optimal portfolio management and expanding the customer base, including commercial banks, insurance companies, pension funds, securities companies, and asset management. BRI is also active in quoting prices for buying and selling securities and other Treasury transactions that are competitive and up to date.
The breadth of the marketing network, both domestic and overseas work units, is an added value for BRI in this activity. This achievement shows BRI is active in supporting the government in national economic development and this support will be continued in the following year.
Not only that, based on the results of the primary dealer performance evaluation in 2019, BRI managed to absorb 22.27% of the total issuance of SUN on the primary market through an auction mechanism, as well as 16.10% of total SUN transactions on the secondary market.
BRI's dominance in the primary market was driven by the total volume of SUN won, which reached IDR 69 trillion, while in the secondary market BRI managed to increase transaction volume by 77.44% from 2018 to IDR 999 trillion.
“In 2019, performance in the primary market was supported by a combination of flows from the banking book, trading book, and client sides. Meanwhile, the increase in activity in the secondary market is clear evidence of our active portfolio management, "added Listiarini. (AHM)
