8 February 2013
Global banks connect to London Stock Exchange's International Board
- HSBC providing liquidity and client access in Singapore-listed stocks
- Barclays enables client access to new platform
- International Board offers overseas stock trading via London market
HSBC is now providing liquidity and client access in Singapore-listed stocks via London Stock Exchange's newly-created International Board. The bank is quoting prices in a number of the 38 most liquid stocks listed on Singapore Exchange (SGX), via its London Stock Exchange membership, during UK market hours.
Separately, the investment banking division at Barclays has completed preparations to enable client access to the platform, and is facilitating trading of Singapore-listed stocks.
Nicolas Bertrand, Head of Equity and Derivatives Markets at London Stock Exchange Group, said:
"The participation of HSBC and Barclays is a great endorsement for this exciting initiative, and will boost liquidity and interest in our new International Board. With significant operations in Europe and Asia, both banks are well-placed to demonstrate this market's benefits to clients and peers alike."
Rakesh Patel, Head of Cash Equities, Asia Pacific at HSBC, said:
"Providing investors with new and innovative ways to access Singaporean equities during London hours is consistent with HSBC's broader commitment to provide international investors with access, liquidity and insight to Asian equity markets. We are delighted to join London Stock Exchange in supporting this initiative."
Siggi Thorkelsson, Head of EMEA Equities at Barclays, said:
"We are delighted to be partnering with London Stock Exchange in helping with the continued development of their International Board platform. This initiative reflects our long-term strategy of providing a world-class Global equity capability that stays relevant for our clients at all times across geographies and time zones."
The International Board, which was announced last year, allows London Stock Exchange members to trade stocks listed on overseas exchanges during UK market hours, via their London connectivity. All constituents of the STI 30 and MSCI Singapore Free Indices are supported on the International Board. Trades on the platform take place in Singapore Dollars. LCH.Clearnet provides global central counterparty risk management for the platform, and settlement takes place at Singapore's Central Depositary Pte (CDP). Early participants will also benefit from a trading fee holiday.
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Notes to editors:
London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe's capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access to an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages over 200,000 equity, bond and alternative asset class indices.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,900 people.
Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.