Switch auctions

Switch auctions make it possible for market participants to exchange a significant amount of off-the-run issues to on-the-run issues at market price.


Results of switch auctions 2024
    Issuance Buybacks
Date Value date Security Bids, DKK million Sale, DKK million Price Pro rata Security Purchase, DKK million Price
29-02-2024 04-03-2024 DGB 2.25'2033 2,450 1,500 97.74 100 DGB 0.00'2031 2,010 83.21
15-02-2024 19-02-2024 DGB 2.25'2026 2,550 1,000 99.30 100 DGB 0.50'2027 770 93.315
31-01-2024 02-02-2024 DGB 2.25'2033 3,350 1,500 98.85 64 DGB 0.50'2029 2,535 90.73
18-01-2024 22-01-2024 DGB 0.25'2052 1,500 1,100 54.00 100 DGB 4.50'2039 1,065 124.90

 

See historical switch auction results.

General information about switch auctions

Switch auctions are offered via the auction system MTS PAF which is also used for the regular auctions of Danish government securities.

Switch auctions via MTS PAF are conducted just as regular auctions of government securities with uniform pricing. Investors can submit bids through the primary dealers. Bids are contingent on simultaneous sale of the buyback issues at the pre-announced price and hedge ratio, which are announced on this site at 10.05 CET on the day of the switch auction.

Deadline for submission of bids is 10.15 CET. Cut-off price and allotted quantity will be determined and announced as soon as possible hereafter. Results of the switch operation are published here as well.

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