The Federal Reserve Bank of New York last week added Jefferies & Co. as a primary dealer, making it the 17th firm to hold the designation.

Jefferies, which earlier this year entered the municipal market with its purchase of Depfa First Albany Securities LLC, said the primary dealer status will help it expand on the services it offers to issuers. Some public entities and money managers for public entities have charters that say they can only transact with primary dealers.

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