UK Mulls Revival of Switch Auctions to Boost Gilt Liquidity

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By Greg Ritchie and James Hirai

March 3, 2026 at 2:42 PM UTC

Updated on

March 3, 2026 at 4:30 PM UTC

The UK said it may revive so-called switch auctions to improve gilt-market liquidity.

Switch auctions are used by governments to allow the exchange of a certain bond for another. While popular elsewhere, they were last used by the UK in 2001.