HONG KONG: London Stock Exchange (LSE) announced it welcomes BOCI Securities Limited as its first member from Hong Kong, China here the other day.
BOCI Securities, 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, said LSE in a statement.
BOCI, established in 1998 and headquartered in Hong Kong, is the wholly owned subsidiary of Bank of China, which offers investment banking and securities brokerage services.
BOCI Securities is the trading bourse’s fourth member from 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, said LSE.
LSE 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.
Raffaele Jerusalmi, Director of Capital Markets at London Stock Exchange Group (LSEG) said that the inclusion of Hong Kong’s firm underscores the unique and increasing appeal that London holds as the venue of choice for Chinese investment, trading and capital raising.
Li Tong, CEO at BOCI, said: “In addition to raising the strategic partnership between BOCI and London Stock Exchange 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, LSEG has built considerably on its relationship with China: seven new Chinese companies have been admitted to LSE; 22 new renminbi, or Chinese yuan bonds have been issued in London and seven new RQFII ETFs (Renminbi Qualified Foreign Institutional Investor Exchange Trading Funds) have listed on the market, including the first ETF in Europe denominated in renminbi, it noted.
