The Bureau of Treasury (BTr) has the Security Bank Corp. recognized again as a “Market Maker for 2023” under the expanded program for eligible government securities dealers, the lender said.
The recognition comes in line with the Bank’s continued efforts to support the national government in promoting the development of domestic capital markets.
The GSED program was launched in 2017 to enhance the depth and liquidity of government bond (GS) markets, specifically by improving the performance of the GS primary market and increasing the liquidity of the GS secondary market.
The program also aims to support the BTr in their initiatives to develop the Philippine capital markets. “We are pleased to maintain our Market Maker status for 2023 as it allows us to play an important role in BTr’s capital raising efforts.
Security Bank will continue to develop the GS primary and secondary market alongside other market makers,” senior vice president Andre P. Ibarra was quoted as saying in the statement.
Every year, the BTr determines who will be market makers within the framework of the GSED program. Those referred to as “market makers” are viewed by BTr as having sufficient capacity and commitment to develop the GS primary and secondary markets.