When tokens are minted and transferred to winners (typically T+1 after auction)
Select which investor categories can participate in this auction
Primary dealers authorized to participate in gilt auctions
Brokers facilitating inter-dealer trading
Non-bank entities providing market liquidity
Alternative investment funds and hedge funds
Institutional investors managing retirement and insurance assets
Funds investing in short-term, high-quality debt securities
Banking institutions excluding primary dealers
Overseas investors and sovereign wealth funds
