The BRICS nations, Brazil, Russia, India, China and South Africa, began cross-listing benchmark equity index derivatives on each other's trading platforms on March 30. It's a move that aims to extend their product offerings beyond home markets and give investors easier access to the BRICS markets.
The cross listing, announced earlier this month, enables traders to buy and sell futures based on the same index in multiple venues. The chief of the Hong Kong bourse said the platform is part of their efforts to exploit the potential of booming emerging markets.
Hong Kong Exchanges & Clearing Ltd. Chief Executive Charles Li said, although trade volume is expected to be small at the initial stage, it lays the ground for promising future development.
The five exchanges first announced the formation of the alliance on October 12, 2011, at a World Federation of Exchanges' conference in Johannesburg, South Africa.
(CNTV.cn March 31, 2012)