MUFG Named Primary Dealer for Treasury Auctions by NY Fed

Mitsubishi UFJ Financial Group Inc. said its US broker-dealer will join the ranks of lenders designated as a primary dealer by the Federal Reserve Bank of New York, one of the bond market’s most exclusive clubs.

It’s the first new addition since SMBC Nikko Securities America Inc. joined the list early last year, according to data compiled by the New York Fed. The roster of primary dealers has grown to 26 firms from as low as 17 in 2008, although it remains below its 1988 peak of 46.