11/25/2024 17:00
Contracts on performing market making services for Ministry of Finance bonds with codes H277N and H253B and Ministry of Finance treasury bills with code T547N were ceremoniously signed at the Zagreb Stock Exchange in the presence of the Minister of Finance and Deputy Prime Minister, Dr. Marko Primorac.The contracts were signed by the Minister of Finance and Deputy Prime Minister, Ph.D. Marko Primorac, Director of the Public Debt Management Directorate of the Ministry of Finance, Hrvoje Radovanić, President of the Management Board of the Zagreb Stock Exchange, Ivana Gažić, and on behalf of Raiffeisenbank Austria by Ante Odak, member of the Bank's Management Board, and Tomislav Ružić, Executive Director of the Bank's Financial Markets.
The services of a market maker involve a continuous provision of supply and demand for financial instruments, positively impacting their availability and liquidity, which can be of crucial importance to investor interest.
This is the first time we are introducing a market maker mechanism for bonds and treasury bills, setting a new standard in public debt management. We welcome this step towards increasing the liquidity and accessibility of these instruments to a broader range of investors, stated Ivana Gažić, president of the Zagreb Stock Exchange. This step certainly gives a positive impulse to sustainable management of public finances, and also represents a significant contribution to the development of the capital market as an integral part of the economic framework of the Republic of Croatia, she concluded.
Raiffeisenbank celebrated 30 years of presence in the Croatian market this year. Throughout these 30 years, we have always worked with the goal of supporting the growth of the local economy, businesses, and Croatian citizens. I believe that today and this collaboration with the Ministry of Finance are very important because, above all, it represent an additional step in our country’s responsibility to consider price stability in the secondary market when issuing bonds. I am particularly pleased that Raiffeisenbank has been recognized as a leader in the capital market that will continue to ensure this price stability, said Ante Odak, Member of the Management Board of Raiffeisenbank.