Investment and information solutions provider Fidessa group plc has seen a number of its key broker clients transition smoothly to the cross-border stock trading program, Shanghai-Hong Kong stock connect.
China International Capital Corp Hong Kong Securities Ltd, CIMB Securities Ltd, Guotai Junan Securities (Hong Kong) Ltd, ICBC International Securities Ltd, and Standard Chartered Securities (Hong Kong) Ltd were among companies that have successfully integrated the stock trading program into their businesses with the help of Fidessa. This integration followed a period of intensive development and testing to meet the tight deadlines that the program demanded, the company said in a statement.
"Fidessa made the decision to invest in the technology needed to support Shanghai-Hong Kong connect from day one,” commented Phill Jeffrey, regional sales director for Fidessa in Asia Pacific. "And we've been working in partnership with our clients since then to develop the tools needed to successfully trade the Shanghai A-Share market."
The Shanghai-Hong Kong connect program, which went live on November 17, opens up access to mainland China by allowing offshore investors to trade Shanghai listed shares via the Hong Kong market. It also allows mainland China-based investors to trade in Hong Kong listed shares via the Shanghai market.
"So far most of the order flow we have seen has been mainly heading north,” adds Jeffrey. "While it is difficult to predict how this new channel will be used and how it might grow, the view is that this has the potential to be transformational. Consequently, we are pleased that our clients have successfully on-boarded this program, seamlessly and from the start."
