Barclays Capital is one of the largest firms in terms of breadth of primary dealership and prominence. As an active primary dealer in government bond markets throughout Europe, we have access to the flow business which is a prerequisite for success in the interest rate market. Our pre-eminence as a dealer in government bond sectors has been recognised by virtually all major sovereign borrowers in Europe, and we have been mandated to lead many of their benchmark bonds, including:

• €5 billion 10 year inflation-linked bond in March 2006 for Federal Republic of Germany
• Sovereign issuances in 2006 for Portugal, Spain, Sweden and Finland

Barclays Capital was ranked No 1 specialists in Italian Government Bonds by the Republic of Italy in 2005 and No 2 overall by the French Treasury in 2006. Further, we are a Gilt Edged Market Maker (GEMM) for the UK Debt Management Office and are the largest dealers of UK Government Bonds with leadership in electronic execution.

In the secondary government bond market, BARX is an unparalleled tool for providing liquidity and price transparency to clients.  We are the No 1 market maker on Tradeweb in European Government Bonds and in Gilts.

Barclays Capital is ranked as a top 10 dealer in US Treasuries. Our leadership position in the TIPS product is backed by our unparalleled global resource in inflation linked products. We are also the leader in electronic trading in US Treasuries and TIPS through Tradeweb and BARX.

We have grown our  Agency products business and we are ranked within the top 10 in the Primary Agency League Underwriting Table. Over the last year we have underwritten large syndicated global transactions for Freddie Mac, Fannie Mae, Federal Home Loan Banks as well as for multiple Supra-nationals and Sovereign Issuers. Barclays Capital is a leading liquidity provider on TradeWeb, Market Access and on our proprietary BARX platform for discount notes, bullet and callable securities.

Barclays Capital has a strong presence in the government bond market in Asia Pacific, and has been a primary dealer in Japanese Government Bonds (JGB) since the inception of the Japanese government trading system. We are ranked within the top three foreign companies in JGB auctions and the inflation linked JGBs. Our capabilities span a full range of Japanese Government Bonds, especially in the areas of floaters, super long dates, CMTs and inflation linked where we are regarded as one of the market leaders. 

Barclays Capital also provides electronic trading in Japanese Government Bonds of various maturities and was ranked No 1 in JGB etrading on Bloomberg in 2005.