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Financial Markets and Exchanges Law, 2nd Edition edited by Blair, Michael; Walker, George; Willey, Stuart (1st November 2012)

Part III UK Money, Debt, and Derivatives Markets, 9 UK Government Debt Management and the Gilt Market

Sarah Ellis

From: Financial Markets and Exchanges Law (2nd Edition)

Edited By: Michael Blair, George Walker, Stuart Willey

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 27 May 2020

Subject(s):
Debt — Primary market — Secondary market — Bonds — Derivatives — Financial Services and Markets Act 2000
9.01 Gilts are marketable securities issued by the government. The name ‘gilt’ is short for ‘gilt-edged’, a name that the financial markets have given to UK government securities because of their reputation as one of the safest sterling instruments in which to invest. The gilt market, which can trace its ancestry to the late 17th century, has evolved to become a modern dynamic market. Gilts account for the vast majority of the UK government’s marketable sterling debt and are issued by the UK Debt Management Office (DMO) on behalf of HM Treasury. 9.02 This chapter...
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