Shanghai-London Stock Connect system is ready to launch

The London Stock Exchange announced on Wednesday that the preparations have been completed for the launch of the long-awaited Shanghai-London Stock Connect system, reports China Daily.

Logos of the Shanghai Stock Exchange and London Stock Exchange. [File photo: IC]

When the system goes live, bond issuers in London can issue depository receipts on the Shanghai Stock Exchange.

Huatai Securities, which is headquartered in Nanjing, could be the first company to be traded using Shanghai-London Stock Connect. The company has obtained approval from Britain's Financial Conduct Authority for their global depository receipts prospectus for the London Stock Exchange, according to the company's website.

The Shanghai-London trading system is expected to help institutions in China to better integrate into the international capital market and to strengthen cooperation between the financial hubs in London and Shanghai.