The issuer of Latvian government securities is the Treasury of the Republic of Latvia in accordancewith Regulation No. 387 "Regulation for Issuing Government Securities" approved by the Cabinet of Ministers on 31 May 2005. Latvian government securities are sold in the auctions of primary placement of securities organised by the Treasury via the NASDAQ OMX Riga electronic trading system SAXESS, and the main auction participants are Latvian banks.