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Secondary market for Government Bonds

Not only are government bonds a means for government financing, but also they are financial products being traded on the ever changing fi nancial and securities markets at the same time. For JGBs to be issued smoothly and fulfill their functions as indicators of bonds and interest rates, transparency and liquidity must be assured and secondary markets with reliable and efficient settlement must exist. This report outlines how JGBs are traded and made settlement on the market.