Jefferies steps down as retail market maker for UK gilts: DMO By Reuters


© Reuters. FILE PHOTO: General view of the Jefferies Financial Group offices in Manhattan, New York, U.S., December 8, 2021. REUTERS/Eduardo Munoz

LONDON (Reuters) – Britain’s debt management office said U.S. investment bank Jefferies International had stepped down from its role as market maker for British government bonds in the retail market.

The decision will take effect at the close of business on Friday, the DMO said.

Jefferies’ resignation leaves the DMO with two other retail market makers: TD and Winterflood, which are responsible for selling gilts to a retail audience.

The DMO has 15 banks that act as primary dealers for institutional investors.

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