LuxSE CEO Robert Scharfe pictured in Macau during the signing ceremony
Photo: LuxSE handout
The Luxembourg Stock Exchange announced on Monday it has signed a memorandum of understanding with Chongwa (Macao) Financial Asset Exchange Co., Ltd. (MOX).
LuxSE said the agreement, a first of its kind for the two entities, “is a testament to the increasing importance of the financial developments in the Greater Bay Area”, with CEO Robert Scharfe adding that it would allow LuxSE to “continue our mission to establish links between capital markets and the international investor community”.
As the only exchange in Macau, an autonomous region on the south coast of China and dubbed the “Las Vegas of Asia”, MOX was also its first to provide bond issuances, custody, listing, trading and settlement services. The exchange is gearing to position itself “to become the new engine of the economic development” of the areas linking Macau’s Greater Bay Area and Guangdong (south China), as well as Hong Kong, which has experienced a downward slide following months-long protests.
Since its establishment in 2018, MOX has “rapidly expanded to include issuers such as the Chinese Ministry of Finance,” according to the LuxSE statement.