The Hong Kong Monetary Authority and the Monetary Authority of Macao have jointly announced the official launch of a direct network link between Hong Kong’s Central Moneymarkets Unit (CMU) and Macao’s Central Securities Depository (CSD). The interconnection links the two regions’ bond market infrastructures and creates a cross-border channel for financing and investment, intended to make it easier for investors in each market to participate in the other’s bond market. The CMU is operated by CMU OmniClear Limited, a wholly owned subsidiary of Hong Kong’s Exchange Fund, while Macao’s CSD is operated by Macau Central Securities Depository and Clearing Limited, a wholly owned subsidiary of the Monetary Authority of Macao. Preparations have been underway since the authorities’ joint announcement on 16 September 2024, including jointly setting operational rules and procedures. The Monetary Authority of Macao described the arrangement as Macao’s first connection between its bond market infrastructure and an overseas central securities depository platform, and noted that it provides international investors, including those from Portuguese-speaking countries, with a channel to access the Hong Kong and Macao bond markets.
Monetary Authority of Macao 2025-01-21
Hong Kong Monetary Authority and Monetary Authority of Macao launch direct Central Moneymarkets Unit to Macao Central Securities Depository link
The Hong Kong Monetary Authority and the Monetary Authority of Macao have launched a direct network link between Hong Kong’s Central Moneymarkets Unit and Macao’s Central Securities Depository. This interconnection facilitates cross-border financing and investment, enhancing investor access to both bond markets. It marks Macao's first connection with an overseas central securities depository, broadening access for international investors, including those from Portuguese-speaking countries.