Applying to be a Primary Dealer in Letras del Tesoro

 1. Companies which would like to achieve the status of Market Makers in Treasury Bills must send an application to the General Secretariat of the Treasury and Financial Policy in which they demonstrate their intention to be Market Makers in Treasury Bills and their commitment to the obligations established by the General Secretariat of the Treasury and Financial Policy. At the same time, the necessary information required to verify fulfilment of the requirements must be included, as well as a report which shows the technical and human resources that are at the disposal of the company in order that it can perform the activities inherent to the status of Market Maker.

2. Following a favourable Bank of Spain report, the General Secretariat of the Treasury and Financial Policy may award the status of Market Maker in Treasury Bills and may announce its decision within the period of three months from the completion of the probationary period.