A Government Securities Eligible Dealer (GSED) is an SEC-licensed securities dealer belonging to a service industry supervised / regulated by Government (Securities and Exchange Commission, Bangko Sentral ng Pilipinas or Insurance Commission) which has met the (a) P100 M unimpaired capital and surplus account; (b) the statutory ratios prescribed for the industry, and (c) has the infrastructure for an electronic interface with the Automated Debt Auction Processing System (ADAPS) and the official Registry of Scripless Securities (RoSS) both of the Bureau of the Treasury (BTr) using Bridge Information Systems (BIS) and acknowledged by the BTr as eligible to participate in the primary auction of government securities. 

On the occasion of its 127th founding anniversary, the Bureau of the Treasury (BTr) named its top-performing GSEDs for the year 2024. The Enhanced GSED program, which provides for the obligations and privileges of  GSED-Market Makers, was launched in 2017 as part of reforms to develop the domestic debt market. Its goal is to promote depth and liquidity in the primary and secondary Government Securities market as well as support the capital market development initiatives of the BTr.

GOVERNMENT SECURITIES ELIGIBLE DEALERS
As of 20 November 2024

1. Australia and New Zealand Banking Group Limited
2. Asia United Bank
3. BDO Capital and Investment Corporation
4. Banco De Oro Unibank, Inc.
5. BDO Private Bank, Inc.
6. Bank Of The Philippine Islands
7. BPI-Capital Corporation
8. JPMorgan Chase Bank
9. China Banking Corporation
10. Citibank N.A.
11. Philippine Bank of Communications
12. CTBC Bank (PHILIPPINES) Corporation
13. Development Bank Of The Philippines
14. Deutsche Bank AG
15. East West Banking Corporation
16. The Hongkong and Shanghai Banking Corporation Ltd.
17. ING Banking
18. Malayan Bank Savings and Mortgage
19. Maybank Philippines Inc.
20. Metropolitan Bank and Trust Company
21. Bank of Commerce
22. Philippine Veterans Bank
23. Philippine National Bank
24. Philippine Business Bank
25. Rizal Commercial Banking Corporation
26. Standard Chartered Bank
27. Security Bank and Trust Company
28. Sterling Bank of Asia, Inc.
29. Land Bank of The Philippines
30. Union Bank of the Philippines
31. BONDS.PH
32. China Bank Savings Corporation
33. Bank Of China Limited, Manila Branch

MARKET MAKERS

1. Banco de Oro Universal Bank
2. Bank of the Philippine Islands
3. China Banking Corporation
4. Citibank N.A.
5. Development Bank of the Philippines
6. Land Bank of the Philippines
7. Philippine National Bank
8. Metropolitan Bank and Trust Company
9. Security Bank and Trust Company
10. Standard Chartered Bank