HKMA Designates Market Makers for Southbound Trading under Bond Connect

The Hong Kong Monetary Authority (HKMA) announced today (22 September) that it has designated the following nine additional financial institutions as market makers for Southbound Trading under Bond Connect (designated market makers) (in alphabetical order).  This brings the total number of designated market makers from 13 to 22 (see the full list at Annex).

China International Capital Corporation Hong Kong Securities Limited
CMB Wing Lung Bank Limited
CSI Global Markets Limited
DBS Bank Limited
Deutsche Bank AG, Hong Kong Branch
Guotai Junan Securities (Hong Kong) Limited
Huatai Financial Holdings (Hong Kong) Limited
Industrial Bank Co., Ltd.
UBS AG

Designated market makers undertake to provide investors with secondary liquidity and support the smooth and orderly operation of Southbound Trading under Bond Connect. The selection of designated market makers follows HKMA’s established internal evaluation process, based on a range of criteria, including debt market activities, business presence in Hong Kong, counterparty network with Mainland financial institutions, internal control systems, etc.

The HKMA will review the list of designated market makers and evaluate the need for enhancement and expansion as and when appropriate, with a view to enhancing cross-boundary financial connectivity and promoting the development of Hong Kong bond market.

Hong Kong Monetary Authority
22 September 2023

Annex

List of Market Makers for Southbound Trading under Bond Connect
(in alphabetical order)

Agricultural Bank of China Limited, Hong Kong Branch
Bank of China (Hong Kong) Limited
Bank of Communications Co., Ltd., Hong Kong Branch
BNP Paribas, Hong Kong Branch
China CITIC Bank International Limited
China Construction Bank (Asia) Corporation Limited
China International Capital Corporation Hong Kong Securities Limited
Citigroup Global Markets Asia Limited
CMB Wing Lung Bank Limited
Credit Agricole Corporate and Investment Bank
CSI Global Markets Limited
DBS Bank Limited
Deutsche Bank AG, Hong Kong Branch
Guotai Junan Securities (Hong Kong) Limited
Hongkong and Shanghai Banking Corporation Limited, The
Huatai Financial Holdings (Hong Kong) Limited
Industrial and Commercial Bank of China (Asia) Limited
Industrial Bank Co., Ltd.
J.P. Morgan Securities (Asia Pacific) Limited
Mizuho Securities Asia Limited
Standard Chartered Bank (Hong Kong) Limited
UBS AG