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 August 6, 2019

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