The Working Committee on Capital Market Development (WC-CMD) was established in 2003 to build capacity and lay the infrastructure for development of ASEAN capital markets, with a long-term goal of achieving cross-border collaboration among the various capital markets in ASEAN.

It comprises of representatives from relevant authorities from ASEAN Member States, such as from the Finance Ministries, Securities Exchange Commissions, and Central Banks; as well as the ASEAN Secretariat.

The WC-CMD meets twice a year, and is currently co-chaired by the Ministry of Finance and Economy Brunei Darussalam and the Securities and Exchange Commission of Philippines.