Primary Dealer

From Reuters Financial Glossary

Dealers who are authorized by the central bank to deal in the primary market for government securities. Primary dealers are normally required to play a significant part in auctions and act as market makers in the secondary market, as well as keeping the central bank well informed of market conditions and developments. Primary Dealers are also known as primary distributors, jobbers, SVTs (in France), underwriters and lead managers.

See also: Markets