Official launch of direct linkage between Central Moneymarkets Unit of Hong Kong and Central Securities Depository System of Macao
The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of
Macao (AMCM) jointly announced today (21 January) the official launch
of the direct linkage between the Central Moneymarkets Unit (CMU)
operated by CMU OmniClear Limited (a wholly-owned subsidiary of the
Exchange Fund), and the central securities depository (CSD) operated
by Macao Central Securities Depository and Clearing Limited (a wholly-
owned subsidiary of the AMCM). The direct linkage aims to promote the
development of the bond markets in the two regions.
Since the
joint announcement on 16 September 2024, the HKMA and the AMCM have
cooperated closely to prepare for the launch of the direct linkage and
to jointly develop the business arrangements and operational
procedures. The connection between the bond market infrastructures in
Hong Kong and Macao 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 signifies a new milestone in financial cooperation
between Hong Kong and Macao, leveraging the strengths of both regions
and demonstrating the synergistic development of the Guangdong-Hong
Kong-Macao Greater Bay Area.
Mr Eddie Yue, Chief Executive of
the HKMA, said "To enhance the competitiveness of Hong Kong as an
international financial centre, the HKMA has established connectivity
with various neighbouring financial markets over the years, and
continues to explore direct linkages with other central securities
depositories. The direct linkage showcases Hong Kong’s role as a
“super-connector” and represents a major step towards developing the
CMU into an international CSD in Asia. ”
Mr Benjamin Chan,
Chairman of the AMCM, said “The official launch of the direct linkage
between the bond markets of Macao and Hong Kong achieved the first
connectivity of Macao’s bond market infrastructure established with a
CSD located outside of Macao. This will provide international
investors, including those from Portuguese-speaking countries, with a
convenient channel to participate in the bond markets of Macao and
Hong Kong, further strengthening Macao’s function as the financial
services platform serving China and Portuguese speaking countries. The
AMCM will continue to establish connectivity with the bond markets in
Mainland and international markets, to gradually expand new financial
services and to support the development of appropriate economic
diversification for Macao. " Hong Kong Monetary Authority Monetary
Authority of Macao 21 January 2025