The Treasury Markets Association has been launched to help the development of Hong Kong's treasury markets and bolster its role as an international finance centre.

The association will promote the professionalism and competitiveness of local treasury markets through developing codes and standards, promoting market and product development, enhancing the professionalism of market practitioners, and promoting the profile of Hong Kong's treasury business.

The association has both institutional and individual members. The former include financial institutions, brokers and corporates involved in treasury markets. Practitioners working in these markets, including those working in the front, middle and back offices, can join as individual members.

Its Executive Board, chaired by Monetary Authority Deputy Chief Executive Choi Yiu-kwan, includes professionals from different sectors of the treasury markets. It also has a council to provide strategic advice to the board on matters relating to the development of the treasury markets. The council, headed by Monetary Authority Chief Executive Joseph Yam, consists of senior executives in the banking and treasury industries and prominent academics. Click here to read the membership lists.

Five committees have been formed to help the board conduct its work, covering codes and standards, market and product development, professionalism membership, publicity and communications, and finance and administration.

"The association will consider and take forward initiatives which are conducive to the long term development of the Hong Kong treasury markets, such as development opportunities and participation in the Mainland treasury markets," Mr Choi said.