Regulators Approve Launch Of Shanghai-Hong Kong Stock Connect
Under the joint announcement issued by the SFC and the CSRC on 10 November, trading through the Shanghai-Hong Kong Stock Connect will commence on 17 November 2014.
“We welcome today’s announcement which is the result of close and intensive cooperation between the SFC and the CSRC over the past few months. In particular, the two regulators have established innovative and robust mechanisms in protecting the integrity of both markets when the pilot programme commences,” the SFC’s Chairman, Mr Carlson Tong said.
The regulatory arrangements for the Shanghai-Hong Kong Stock Connect include a new benchmark for cross-boundary regulatory operation including the timely provision of client and order data to facilitate real time surveillance of market activity by the SFC and the CSRC for markets in Hong Kong and Shanghai respectively under the pilot programme.
The two regulators earlier also entered into a Memorandum of Understanding on strengthening cross-boundary regulatory and enforcement cooperation under the pilot programme