Mainland and Hong Kong to jointly build FIC electronic trading platform

(ECNS) -- The People's Bank of China, the Hong Kong Monetary Authority, and the Securities and Futures Commission announced a series of new measures on Tuesday to deepen financial cooperation between Hong Kong and the mainland.

The measures include the joint development of a Hong Kong fixed-income and currency electronic trading platform by financial infrastructure institutions from both sides.

Julia Leung, chief executive Officer of the Securities and Futures Commission, said the new platform is expected to improve trading efficiency and transparency through new technologies, facilitate price discovery and reduce transaction costs.

She added that the platform would help foster a more mature fixed income market with a thriving secondary market.

(By Tang Yuxian)