The Exchange offers secondary market for securities issued by the government. Government Debt Management Agency (GDMA), the issuer of government debt securities introduces the majority of government bonds and treasury bills denominated in HUF to exchange trading.
All publicly issued government bond is available for investors in exchange trading that is denominated in HUF, exceptions: Premium Government Bonds, Treasury Savings Bills and Baby Bonds. On the short end of the maturity spectrum of government bonds we can find bonds with term of 3 and 5 years, while on the longer end 10 and 15-year-term government bonds are traded. The financing strategy of the Debt Management Agency is based on fixed-rate bonds but floating-rate 5-year-term bonds are also introduced to exchange trading.
Treasury bills represent the other class of exchange traded fixed income securities issued by the government. Treasury bills are issued with discount to its face value and their owners can claim the face value at maturity.
The exchange trading of treasury bills are supported by the primary dealer system similarly to the government bond market.
The maturity of exchange traded treasury bills can be 12 months.