Primary Dealership

Our Profile ICICI Securities Primary Dealership Limited (I-Sec PD) is an acknowledged leader in the Indian fixed income and money markets, with a strong franchise across the spectrum of interest rate products and services – institutional sales and trading, debt resource mobilization and research. As one of the first entities to be granted Primary Dealership license by RBI, I-Sec PD has made pioneering contributions since inception to debt market development in India.

The I-Sec PD desks trade actively in government securities, swaps and corporate bonds markets. In each of these markets, it enjoys dominant position, accounting for a significant share of trading turnover.

Innovation and insight in rate markets drive I-Sec PD’s relationship with clients. We actively assist clients in providing interest rate structures to suit their objectives. I-Sec PD Sales team has developed a strong network of relationships covering institutional investors such as banks, mutual funds, insurance companies, provident and pension funds, corporates and FPIs. These relationships are serviced by a wide distribution network with footprints across the country. The Debt Capital Markets desks’ profound understanding of debt resource requirements of clients coupled with I-Sec PD’s client relationships make us ‘Arranger’ of choice. Further, as an Authorised Dealer license holder, I-Sec PD shall soon start offering FX and FX derivative solutions to its clients.

I-Sec PD is also credited with pioneering debt market research in India. Our in-depth research and independent and well-considered market commentaries are widely read and acclaimed.

I-Sec PD’s expertise and leadership position have been consistently recognised by domestic and international agencies..


Volumes achieved Over the past 5 years (Rs. bn)

Instruments 2017-18 2018-19 2019-20 2020-21 2021-22
G-sec 15,955 10,172 11,044 8,024 10,376
Non SLR 380 419 677 571 424
IRS 12,469 18,933 6.866 4,021 8,656
Debt placement 1,294 1,743 2,954 3,136 1,751