Luxembourg Stock Exchange signs agreement with MOX

Chongwa (Macao) Financial Asset Exchange Co. Ltd. (MOX) has signed an agreement with the Luxembourg Stock Exchange (LuxSE) in order to allow two-way bond listing, asset and investment fund cooperation, and promote cross-border investment and offshore liquidity in the RMB bond market.

The agreement was signed today in a ceremony attended by Secretary for Economy and Finance Lei Wai Nong, the Chairman and President of the MOX Executive Committee, Mex Zheng, and the LuxSE CEO, Robert Scharfe.

MOX was established in December 2018 by the Nam Kwong Group, a Chinese state-owned conglomerate in Macau whose business empire extends from public transportation to utilities to hotels and tourism.

It is the first financial institution in the territory to provide services of bond issuance, listing, registration, custody, trading and settlement, and is part of a move by the Chinese central government to develop Macau’s role as a financial centre in the Greater Bay Area

About 13 institutions and companies from Macau and Mainland China have issued and listed 18 bond products via MOX, with the volume totalling over MOP40 billion (US$5 billion) in its first year of operations. 

Last week Nanjing Southeast State-owned Asset Investment Group also announced it would list and trade RMB1 billion in MOX’s platform.