KTB primary dealers (PD) are authorized an exclusive right to participate in the auction in the KTB primary market and instead required to perform market-making obligation by placing buying and selling quotations in the secondary market.

PDs are designated by the Minister of the Strategy and Finance among those which are licensed to engage in the investment dealing business for the KTBs and have a certain level of KTB trading history as well as sound financial status. There are 19 KTB primary dealers and 4 Preliminary primary dealers as of the end of July, 2016.

item details
financial soundness securities firm : net capital ratio for business>=150%
bank, merchant bank : BIS Net worth ratio >=8.0%
dealing manpower More than 5 persons with more than 3 year experience
research manpower More than 3 persons with more than 3 year experience
back-office manpower More than 4 persons with more than 1 year experience
Business period of government bonds dealing More than 3 years from permission date for primary dealer