As a Primary Dealer (PD) for Government of Pakistan (GoP) securities, UBL is one of the leading players in money market & fixed income securities. By virtue of being a PD, UBL actively participates in the primary market auctions of Treasury Bills (T-Bills), Pakistan Investment Bonds (PIBs) & Ijara Sukuks held by the State Bank of Pakistan on behalf of the GoP. The MM desk is an active and aggressive player in secondary market & is one of the key market makers for GOP securities, UBL PD Ranking for 2017-2018 was 2nd.