Laura de la Quintana Madrid
Madrid
Updated Friday, February 16, 2024-12:23
AurigaBonos, a trading
platform
specialized in the sale of fixed income, has launched a new service for buying/selling Treasury Bills from four European countries to respond to the fever that exists among small savers for shorter-term public debt. term. According to the company, it is the first time that the Spanish investor
will be able to directly access the auctions of Letters from three other countries of the European Union, such as Germany, Italy and Belgium
, in addition to those issued by the euro zone itself.
The appetite for Letters has remained throughout the months since the European Central Bank (ECB) decided to change its monetary policy in July 2022 and begin an unprecedented increase in interest rates. "According to the latest figures from the Bank of Spain, the investment of individuals in Treasury Bills reached 23,977 million euros in November 2023, which is 550% more than in January 2023, when it was established at 3,687 million" , highlights Auriga Global Investors in its note.
What offer can the Spanish individual aspire to?
The upcoming auction calendar will allow minorities to access a first auction on March 6 of the European Union with six-month bills, whose last comparable issue closed at a profitability of 3.687%. On March 12, both Belgium and Italy will hold auctions of one-year securities. Its February reference is 3.396% and 3.522%, respectively. Germany's turn will come on March 19 with twelve-month bills and a profitability of 3.3%, as quoted on the secondary market.
What are the commissions?
AurigaBonos applies a custody fee of 0.2%. In addition, they clarify that there are two ways to access Treasury Bills from other countries, both in the primary market (through which one goes directly to the auction) and in the secondary market (where it is allowed to buy and sell until maturity and, therefore, the price varies). In this second market, the investor must also pay a commission of 0.25% for the purchase and sale of the Treasury Bill, with a minimum of 10 euros. Between both commissions, the investor should assume a cost of 12 euros if he buys in the primary market and then sells in the secondary market or 22 euros if the purchase is also made in the secondary market.