A Government Securities Eligible Dealer (GSED) is a 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. 

Last November 2017, the BTr recognized the first set of GSED-Market Makers. The Enhanced GSED Program will impose obligations and provide privileges to GSED-Market Makers including due consideration for participation in second round auctions, special issues, liability management transactions, and market consultations.

As of September 15, 2021

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


  1. BDO Unibank
  2. Bank of the Philippine Islands
  3. China Banking Corporation
  4. Citibank
  5. Development Bank of the Philippines
  6. First Metro Investment Corporation
  7. Land Bank of the Philippines
  8. Metrobank and Trust Company
  9. Rizal Commercial Banking Corporation
  10. Security Bank

The information on this site is intended as a general reference for internet users.
It is made available on the understanding that The Bureau of The Treasury (BTr),
as a result of providing this information, is not engaged in providing
professional advice.

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