The FINANCIAL -- On July 29, London Stock Exchange welcomes BOCI Securities Limited as its first member from Hong Kong. BOCI Securities Limited, a wholly owned subsidiary of BOC International Holdings Limited (“BOCI”), joins London Stock Exchange less than two months after regulatory approval was received from Hong Kong’s Securities and Futures Commission allowing Hong Kong firms to become members.
BOCI Securities Limited is London Stock Exchange’s fourth member from Greater China and the first from Hong Kong, highlighting London’s deep relationship with the region, and reflecting London’s historic strength as a global financial centre.
London Stock Exchange membership allows major trading and broking firms to connect directly to Europe’s most liquid and international order book, and to trade central counterparty cleared securities including some of the world’s largest and well known companies. In addition the same connection provides access to London Stock Exchange Derivatives Market which provides trading in derivative contracts in UK securities and Global Depositary Receipts.
Raffaele Jerusalmi, Director of Capital Markets, LSEG said:
“We are very pleased to welcome BOCI as our first Hong Kong member. In joining our markets, it underscores the unique and increasing appeal that London holds as the venue of choice for Chinese investment, trading and capital raising. Today’s announcement will strengthen London and the UK’s ties with Greater China and reinforce our reputation as one of the world’s leading international financial centres.”
Ms Li Tong, Chief Executive Officer of BOC International Holdings Limited, said:
“We are glad to be the first member of London Stock Exchange in Hong Kong. BOCI has been providing a comprehensive range of quality and professional investment banking products and services to our customers through our extensive global network and diversified service platform. In addition to raising the strategic partnership between BOCI and LSE to a new level, this membership will also enhance our customer servicing capability and further strengthen BOCI’s leadership position in the market.”
Since January 2014, London Stock Exchange Group has built considerably on its relationship with Greater China: seven new Chinese companies have been admitted to London Stock Exchange; twenty two new RMB bonds have been issued in London and seven new RQFII ETFs have listed on the market, including the first ETF in Europe denominated in RMB.