Government Bonds

Irish Government bonds are listed on Euronext Dublin. The benchmark bonds are also traded on the electronic trading platforms, EuroMTS, Brokertec and BGC Partners. The clearing and settlement system of Irish Government bonds is carried out by Euroclear.                  

  • Outstanding Bond Report

    The outstanding amounts of each bond (net of repos and on a “contracted” basis) are published daily in the Irish Government bonds outstanding report.

    Download in PDF format

     
  • Primary Dealer System

    The Irish Government bond market has a strong Primary Dealer group, mainly international investment banks with a global reach.

    The Primary Dealer system and the issuance procedures for the Irish Government bond market are set out in the January 2018 document: The Primary Dealer System in Irish Government Bonds, including issuance and related debt management arrangements (125 KB, PDF format) here.

    The primary dealers recognised by the NTMA each make continuous two-way prices in designated benchmark bonds in specified minimum amounts and within specified maximum bid-offer spreads. A number of stockbrokers also match client orders. The primary dealers are:                                                                                                                                                              

    DealerLocationReuters pageBloomberg page Telephone
    Barclays LondonBARCEGBBCEG+44 207 773 5200
    BNP ParibasParisBPGVBPEG+44 207 595 8777
    Cantor Fitzgerald Ireland LtdDublin
    CTFI+353 1 633 3882
    CitigroupLondonCITIGROUPCGEG+44 207 986 8907
    Danske BankCopenhagen
    DMGV+45 4514 3970
    DavyDublinDAVC – DDAVC+353 1 614 8986
    Deutsche BankFrankfurtDBF18DABB+49 69 910 30810
    Goldman SachsLondon
    GSGB+44 207 774 6093
    HSBC France ParisHSBCIRLHSBC+33 1 407 07172
    JP MorganLondonJPMORGANJPGX 21+44 207 779 3400
    Merrill Lynch InternationalLondon
    BAMG+44 207 996 6749
    Morgan StanleyLondon
    MS+44 207 425 8000
    Nomura International plcLondonNOMURANOMX+44 207 521 2000
    NATWest Markets London
    RBSM+44 207 085 0133
    Société GénéraleParisSGGOVTSXGV+33 1 42 13 56 67
    UBS LimitedLondonUBSEUROUEUG+44 207 567 4747

    The Primary Dealers are members of the Irish Stock Exchange, on which Irish Government bonds are listed. They have exclusive access to the NTMA’s bond auctions and may avail of repo and reverse repo facilities which the NTMA provides in Irish Government bonds.

     
  • Collective Action Clause

    Following the conclusion of the European Council of 24-25 March 2011 a standardised and identical collective action clause (CAC) including supplemental provisions was developed and agreed by the Economic and Financial Committee on 18 November 2011.  In accordance with Paragraph 3 of Article 12 of the ESM Treaty, the model CAC will become mandatory in all new euro area government securities with a maturity above one year issued on or after 1 January 2013 and in a way which ensures the legal impact is identical. Below in PDF format is the agreed collective action clause, the supplemental provisions, the Supplemental Explanatory Note of 26 March 2012  and the Explanatory Note of 26 July 2011. This CAC has been included by reference in all new Irish Government bonds issued after 1 January 2013.

    Collective action clause (65.2 KB, PDF format)

    Supplemental provisions (51.9 KB, PDF format)

    Explanatory Note of 26 July 2011 (37.9 KB, PDF format)

     
  • Irish Government Bond Indices

    Euronext Dublin publishes each day six Clean Price Bond Indices and six Total Return Bond Indices, “ISEQ®-BIS”. The twelve bond indices are categorised by time to maturity. They are calculated at 16:30 each day. Daily ISEQ®-BIS data is available on Euronext Dublin’s website. An archive of daily and weekly reports published by Euronext Dublin is available in the below.

    Bond index reports published by Euronext