LSE gets green light from Hong Kong 16 June 2014London Reporter: Stephanie Palmer
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The London Stock Exchange has received regulatory approval from Hong Kong’s Securities and Futures Commission to allow Hong Kong firms to become members of the London Stock Exchange.
Trading firms will now be able to connect to theLondon Stock Exchange orderbook and to trade central counterparty cleared securities. They will also have access to the derivatives market, which provides trading and derivatives market, which provides trading and derivative contracts in UK securities and global depository receipts.
Alexander Justham, CEO of London Stock Exchange said: “As Members of London Stock Exchange, Hong Kong firms will be able to offer their customers access to the most liquid European market.”
“Like Hong Kong, London has always been a market open to the world and we are excited about the increasingly strong relationship being forged between these two exceptional global financial centres.”
The London Stock Exchange already has a relationship with mainland China. Since 1 January 2014, seven Chinese companies have been admitted to the London Stock Exchange, 10 renminbi (RMB) bonds have been issued in London and six RMB qualified foreign institutional investor exchange traded funds have been listed on the market, including the first ETF in Europe to be dominated in RMB.
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