More banks seen bypassing bonds brokers in 2016

The introduction of the authorised securities dealer licence by the Capital Markets Authority (CMA) in 2015 will define this year as banks bypass brokers when selling or buying bonds.

Chase Bank, which also has an investment bank subsidiary Genghis Capital, was the first to acquire the licence in June allowing it to buy and sell specific securities on a continuous basis as well as originate securities which it can then buy or sell to investors.