Metropolitan Bank & Trust Co. (Metrobank) is recognized by the Bureau of the Treasury (BTr) as Top Market Maker for Government Securities Eligible Dealers (GSED) for 2024 during the celebration of its 126th anniversary. The bank snags the title for the third consecutive time and for helping government in its financing requirements and enhancing Filipinos’ access to investment opportunities.
Receiving the award are Metrobank financial markets sector head Fernand Antonio Tansingco and Metrobank treasury group head Rommel Dionisio from Deputy Treasurer Erwin Sta Ana, Finance Secretary Benjamin Diokno, OIC Sharon Almanza, and OIC-Deputy Treasurer Kenneth Ian Francisco.
The National Treasury also recognized nine other financial institutions during the awarding ceremony.
As the top market maker, Tansingco delivered his remarks on behalf of all awardees, he said: “Uncertainty will be a permanent fixture of the market, our task is to rise above the headwinds and write the next chapter of market development. Our goals are clear. We have a lot of unfinished business. How can we increase participation in the bond markets? How can we increase market liquidity? How can we reduce the cost to transact? And how can we ensure a vibrant, active market regardless of the direction of interest rates? These are Herculean tasks that we are faced with, and the problems we, as a community, have to solve.”
“We, in Metrobank, pledge in solidarity with other GSED market makers here today,” he added.
The enhanced GSED program, which provides for the obligations and privileges of GSED-market makers, was launched in 2018 as part of reforms aimed at improving the depth and liquidity of the government securities markets. GSEDs are evaluated yearly based on total primary market volume, auction participation, bid efficiency, secondary market performance, and support to the BTr’s capital market development initiatives.
