The Hong Kong Monetary Authority (HKMA) has added nine financial institutions as designated market makers for Southbound Trading under Bond Connect, increasing the total number from 13 to 22. These market makers provide secondary liquidity, support smooth operations, and enhance cross-boundary financial connectivity. The selection process considers criteria such as debt market activities, business presence in Hong Kong, and connections with Mainland financial institutions. The HKMA will review and expand the list as needed to promote the development of the Hong Kong bond market.
Resource:
https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/09/20230922-3/