Barclays, HSBC connect to LSE’s International Board platform
Move allows overseas stock trading via London market for banks’ clients
By Gaurav Sharma | CFO UK | Published 10:50, 08 February 13
HSBC and Barclays have connected to the London Stock Exchange’s (LSE) newly-created International Board trading platform thereby facilitating overseas stock trading via the London market for their clients, it was announced on Friday.
LSE said HSBC had commenced providing liquidity and client access in Singapore Exchange (SGX) listed stocks via the platform. “The bank is quoting prices in a number of the 38 most liquid stocks listed on the SGX, via its LSE membership, during UK market hours,” said a spokesperson.
Separately, the LSE also announced that the investment banking division of Barclays has completed its 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 LSE, 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," he added.
The International Board, which was launched last year, allows LSE 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).
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