Macau’s central securities depository (CSD) and Hong Kong’s Central Moneymarkets Unit (CMU) were directly linked to each other yesterday with the aim of promoting the development of the two cities’ respective bond markets, with the new measure’s launching ceremony held in Macau yesterday.
The measure was announced in a joint statement by the Macau Monetary Authority (AMCM) and the Hong Kong Monetary Authority (HKMA).
Yesterday’s statement announced the official launch of the direct linkage between Hong Kong’s Central Moneymarkets Unit (CMU), operated by CMU OmniClear Limited (a wholly-owned subsidiary of Hong Kong’s Exchange Fund), and Macau’s central securities depository (CSD), operated by Macao Central Securities Depository and Clearing Limited (a wholly-owned subsidiary of the AMCM).
The statement said that since the two sides announced their joint decision in September last year to launch the measure, the HKMA and the AMCM had cooperated closely to prepare for the launch of the direct linkage and to jointly develop the business arrangements and operational procedures.
The statement underlined that the connection between the bond market infrastructures in Hong Kong and Macau will provide a cross-border investment and financing channel, enabling investors from both markets to participate in each other’s bond market with greater ease and efficiency. The direct linkage also marks a new milestone in financial cooperation between Hong Kong and Macau, leveraging the own strengths of both cities and demonstrating the synergistic development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), the statement said.
The statement also said that the official launch of the direct linkage between the two cities’ bond markets has now enabled Macau’s bond market infrastructure to connect with a central securities depository located outside Macau for the first time.
The statement said that this will provide international investors, including those from Portuguese-speaking countries (PSCs), with a convenient channel to participate in the bond markets of both cities, further strengthening Macau’s function as the financial services platform serving China and Portuguese-speaking countries.
The statement underlined that the AMCM will continue to establish connectivity with the bond markets in the mainland and international markets with the aim of gradually expanding new financial services and supporting Macau’s appropriate economic diversification.
Yesterday’s launching ceremony, held at the World Trade Centre Macau (WTCM) in Zape, was attended by Macau Secretary for Economy and Finance Tai Kin Ip, Macau Monetary Authority (AMCM) President Benjamin Chan Sau San, Hong Kong Monetary Authority (HKMA) Deputy Chief Executive Howard Lee Tat Chi, as well as other officials from both cities.
Guests such as Secretary for Economy and Finance Tai Kin Ip (centre), Macau Monetary Authority (AMCM) President Benjamin Chan Sau San (fourth from right), and Hong Kong Monetary Authority (HKMA) Deputy Chief Executive Howard Lee Tat Chi (third from left) pose for a group photo after symbolically marking the direct linkage between Hong Kong’s Central Moneymarkets Unit (CMU) and Macau’s central securities depository (CSD) yesterday, at the World Trade Centre Macau (WTCM) in Zape. – Photo: AMCM
