1.   As part of the strategy, ABN hired a team of nine people from S.G. Warburg, which renounced its primary dealer status in January.

2.   As primary dealer, Unibank becomes a market-maker for government bonds, currencies and other financial instruments.

3.   Being a primary dealer can be a coveted and profitable position in a rising market.

4.   Both bonds will carry benchmark status, which means primary dealers must quote two-way prices for them.

5.   Fear of the unknown could also make primary dealers reluctant to lend at the end of the year.

6.   Greenspan also also said that the Fed is now considering including certain state debt and the debt of foreign governments as accepted collateral for primary dealers.

7.   If that comes with little when-issued trading, there will be little time for primary dealers to line up buyers.

8.   In addition, the central bank is preparing to allow foreign banks to act as primary dealers, as early as this year.

9.   In April, Nomura abandoned its position as a primary dealer in French government bonds.

10.   In exchange for securities from the primary dealer, which are taken as collateral, the Fed credits their accounts with cash.