The volume of securities held in custody by the Macao Central Securities Depository and Clearing Co., Ltd. (MCSD) has reached almost MOP95 billion (US$11.9 billion), said Chan Sau San, chairman of the Administrative Committee of the Monetary Authority of Macau, on Wednesday.
In a speech at the ceremony celebrating the second anniversary of the establishment of MCSD, Chan said that “in the new year, AMCM will continue working hand in hand with the industry, aiming to develop the Macau bond market into an investment and financing service platform that connects with mainland China and the world, as well as showcasing Macau’s advantages.”
MCSD, a wholly-owned firm of AMCM, provides securities registration, clearing, settlement, depository, and other related services. The nearly MOP95 billion figure includes the third round of treasury bonds issued by the Ministry of Finance in Macau and the third round of government bonds issued by the Guangdong provincial government in the city.
Over 100 institutions have opened accounts with MCSD, comprising 34 local institutions and 67 institutions from outside Macau.
The AMCM chairman also noted that the SAR’s Economic Diversification Development Plan, which formulates the “1+4” strategy, clearly states the main task of “accelerating the cultivation of the bond market” to further develop modern finance.
During the ceremony commemorating the second anniversary of MCSD, awards were also presented to over 20 local and international institutions for their contributions to the development of the Macau bond market in 2023. The awards covered six categories, including “Excellent Underwriter”, “Excellent Issuer”, “ESG Outstanding Contributor”, “Outstanding Trader in Secondary Market”, “Outstanding Overseas Marketer”, and “Outstanding Professional Service Provider”.
The AMCM chairman also revealed that the regulator has completed the industry consultation on the city’s first Securities Law. “The goal is to establish a legal framework that promotes efficient market operation and aligns with international standards, in order to enhance investors’ confidence in Macau’s bond market,” he said.
