Only financial investment firms and banks who have obtained the permission to trade government bonds (so-called the Government bond dealers) can participate in KRX KTB. Government bond dealers can be classified into two categories: Primary Dealers (PDs) and Preliminary Primary Dealers (PPDs), who take priority for KTB underwriting in the primary market but have the market-making obligation in the secondary market (KRX KTB); and Ordinary Dealers, who may participate in KRX KTB but not in the primary market.

Institutional investors can participate in KRX KTB as entrusted participants through the Government bond dealers.