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Gilt Market

Gilt Market

Operational Rules

The operational rules and mechanics of the gilt market are set out in the documents available below. PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market is aimed at the DMO gilt market counterparties and outlines their obligations as gilt-edged market makers and the DMOs obligations to them. It is an updated and expanded version of PDFA Description of the DMO's Relationship with the GEMMs and IDBs.

The PDFInformation Memorandum for the Issue, Stripping and Reconstitution of British Government Stock sets out the legal details behind gilt issuance, while PDFOfficial Operations in the Gilt-edged Market provides detail on the operational procedures conducted by the DMO in the gilt market. Finally, a comprehensive background paper by the Bank of England on the PDFgilt strips facility can also be found below.

TitleSizeDate Published
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
466KB
31 Mar 2014
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
297KB
31 Mar 2014
PDFApplying proceeds from the Post Auction Option Facility to auction sizing: An updated DMO Operational Notice
250KB
19 Mar 2014
PDFInformation Memorandum for the Issue, Stripping and Reconstitution of British Government Stock
232KB
22 Aug 2013
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
287KB
25 Jan 2013
PDFWholesale GEMM Criteria, Obligations and Privileges
17KB
15 Aug 2011
PDFOperational Note: Syndicated offerings
16KB
15 Aug 2011
PDFTerms and conditions of standing repo facility
21KB
06 Aug 2009
PDFMarket Notice - Post-auction option facility
17KB
22 May 2009
PDFGEMM e-bidding auction procedures
19KB
04 Sep 2007
PDFThe Official Gilt Strips Facility: A Paper by the Bank of England
118KB
8 Oct 1997
PDFDisclosure of Tax Decisions Affecting Government Securities: Statement issued by HM Treasury
540KB
29 May 1985

Available below are documents relating to previous versions of operational rules and other historical information.

TitleSizeDate Published
PDFNotice of amendment to the Information Memorandum
32KB
25 Jul 2013
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
482KB
25 Jan 2013
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
287KB
25 Jan 2013
PDFApplying proceeds from the Post Auction Option Facility to auction sizing: a DMO Operational Note: 31 October 2011
40KB
31 Oct 2011
PDFInformation Memorandum for the Issue, Stripping and Reconstitution of British Government Stock The Information Memorandum
226KB
15 Aug 2011
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
188KB
15 Aug 2011
PDFNotice of amendment to the Information Memorandum
15KB
24 Jun 2011
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
129KB
20 Nov 2009
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
319KB
20 Nov 2009
PDFTerms and conditions of special repo facility
21KB
06 Aug 2009
PDFTerms and conditions of special repo facility
21KB
22 May 2009
PDFInformation Memorandum for the Issue, Stripping and Reconstitution of British Government Stock The Information Memorandum
262KB
22 May 2009
PDFOperational Note: Syndicated offerings
18KB
22 May 2009
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
444KB
18 Mar 2009
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
126KB
18 Mar 2009
PDFNotice of amendment to the Information Memorandum
15KB
18 Mar 2009
PDFTerms and conditions of special repo facility
15KB
03 Oct 2008
PDFInformation Memorandum for the Issue, Stripping and Reconstitution of British Government Stock The Information Memorandum
219KB
20 Aug 2007
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
502KB
18 May 2007
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
210KB
18 May 2007
PDFNotice of amendment to the Information Memorandum
16KB
14 May 2007
PDFNotice of amendment to the Information Memorandum
151KB
13 Sep 2005
PDFNotice of amendment to the Information Memorandum
98KB
13 May 2005
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
430KB
26 Sep 2006
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
152KB
26 Sep 2006
PDFNotice of amendment to A Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
65KB
22 Mar 2006
PDFNotice of amendment to the Official Operations in the Gilt-edged Market
59KB
22 Mar 2006
PDFA Guide to the Roles of the DMO and Primary Dealers in the UK Government Bond Market
894KB
21 Dec 2004
PDFInformation Memorandum for the Issue, Stripping and Reconstitution of British Government Stock The Information Memorandum
433KB
21 Dec 2004
PDFOfficial Operations in the Gilt-edged Market - an Operational Notice
125KB
16 Jan 2004
PDFA Description of the DMO's Relationship with the GEMMs and IDBs
38KB
October 1999
PDFYear 2000 and the Gilt Market
7KB
30 Sep 1999
PDFPlans for the Official Gilt Strips Facility
2.6MB
January 1996

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