Nomura Securities International (NSI), a US broker-dealer within Nomura Group, has been designated to join the ranks of Primary Dealers by the Federal Reserve Bank of New York. As a result, NSI has become the third brokerage so far this year, to join the network of securities firms that underwrite the US government’s debt.
Shigesuke Kashiwagi, CEO of Americas division, at Nomura, said: “Becoming a primary dealer represents the beginning of the build out in our fixed income division. There are many opportunities for our firm in fixed income and we’ll continue to hire professionals to better serve our clients on a global basis.”
Tarun Jotwani, head of Global Fixed Income, Nomura, said: Nomura has been actively building out its global fixed income franchise as it transforms into a top global investment bank. Building on our dominant Japanese franchise, we have achieved tremendous business momentum in Europe and Asia Pacific. Obtaining a primary dealership in the US is consistent with our global strategy and a natural next step for us.
Primary Dealers serve as counterparties in open market operations, participate directly in Treasury auctions and provide analysis and market information to trading desks at the Federal Reserve Bank of New York.
