Freshfields represented Micro Connect in its launch of Micro Connect Macao Financial Assets Exchange

Freshfields represented Micro Connect in its launch of Micro Connect Macao Financial Assets Exchange

Freshfields Bruckhaus Deringer has assisted Micro Connect, a new financial market platform, in launching the Micro Connect Macao Financial Assets Exchange (MCEX), the world’s first licensed exchange for Daily Revenue Obligations (DROs) in China.

DROs are a new asset class that provides a connection between global capital and micro and small businesses.

The primary objective of the platform is to enhance the accessibility and affordability of global capital for business owners as well as provide global investors with direct and diversified exposure to the daily cash flows of the millions of stores that make up China’s consumer economy.

The initial Daily Revenue Obligations (DRO) offering on Micro Connect Macao Financial Assets Exchange (MCEX) occurred on March 25, 2023.

The Freshfields team was led by partner and China Chairman Teresa Ko and partners Grace Huang and Sarah Su, supported by senior associate James Parkin and associate Dickson Chan. Regulatory advice was provided by partner and Asia head of financial services Matthew O’Callaghan and counsel Kenneth Hui. IT/IP and data protection advice was provided by the partner and Asia head of IP/IT Richard Bird and associate Harshavardhan Ganesan.

Partner and China Chairman Teresa Ko, partners Grace Huang and Sarah Su, senior associate James Parkin, and associate Dickson Chan headed the Freshfields team that advised Micro Connect on the launch of MCEX.

Additionally, regulatory advice was provided by the partner and Asia head of financial services Matthew O’Callaghan, and counsel Kenneth Hui, while partner and Asia head of IP/IT Richard Bird and associate Harshavardhan Ganesan provided IT/IP and data protection advice.