New Cooperation Agreement signed between LuxSE and MOX

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During the official visit of the Macao Special Administrative Region (SAR) to Luxembourg this week, the Luxembourg Stock Exchange (LuxSE) and Chongwa (Macao) Financial Asset Exchange Co., Ltd (MOX) seized the opportunity to sign a new Cooperation Agreement – an important next step in the collaboration between the two institutions that started in 2020.

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25/04/2023 |

In the presence of Mr Ho Iat Seng, Chief Executive of Macau SAR, Mr Hua Ning, Ambassador of the People’s Republic of China to Luxembourg and Mr Marc Huebsch, Luxembourg Ambassador to China, LuxSE and MOX yesterday joined forces for the third time to sign a Cooperation Agreement that extends the scope of the two international exchanges’ collaboration to include the admission of MOX-listed securities for listing and trading on LuxSE’s exchange-regulated market, the Euro MTF.

“It is an honour to welcome senior representatives of Macao SAR and MOX to our exchange today to celebrate this next important step in the cooperation between our two institutions. Creating more connected capital markets is at the heart of LuxSE’s mission and we work to facilitate the access of new issuers from different parts of the world to our Euro MTF through close cooperation with selected exchanges, thereby providing more information and transparency around opportunities in new markets to international investors,” commented Julie Becker, CEO of LuxSE.

Expanded scope

The relationship between LuxSE and MOX was initiated in January 2020 when the two institutions signed a Memorandum of Understanding in Macao. This MoU was followed by the signing of a first Cooperation Agreement in 2022, which focused on enhancing the visibility of securities listed on MOX towards international investors via admissions on LuxSE’s Securities Official List (LuxSE SOL). The new Cooperation Agreement expands the scope of this cooperation by making the securities listed and available for trading on LuxSE’s Euro MTF.

“Under the strong support and guidance of the Macau SAR Government, MOX and the Luxembourg Stock Exchange have established a long-term, stable, and mutually beneficial partnership. Up to now, there are over 17 billion MOP-denominated bonds dual-listed on MOX and the Luxembourg Stock Exchange. MOX looks forward to exploring new opportunities for innovation and cooperation in financial markets with the Luxembourg Stock Exchange to improve the liquidity of the two capital markets and strengthen strategic cooperation in green finance to provide a new model for the international financial cooperation of One Belt and One Road Initiative,” commented Mr Mex Zhang, Executive Chairman and President of MOX.

Connecting capital markets

MOX, officially established in 2018, is Macao’s only exchange and facilitates bond issuance, listing, trading and settlement services. It plays an essential part in Macao’s ongoing efforts to diversify its economy and gain prominence as a financial hub in the Greater Bay Area. According to a report by the International Capital Market Association (ICMA) released in March 2023, more than 13% of Asian issuers chose to list their first international bond issuance on MOX in 2022, and Macao has become the second largest listing venue for their first international bond issuance in Asia.

As the world’s leading exchange for the listing of international debt securities, LuxSE has a strong focus on international cooperation and works closely with selected exchanges around the world to create more connected capital markets and facilitate access to the international investment community for issuers across the world.

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