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Shanghai Stock Exchange to set up info platform to boost block trade

By Bi Xiaoning and Zheng Lifei (chinadaily.com.cn)
Updated: 2009-03-07 17:36

Shanghai Stock Exchange is planning to set up an information platform for block trade transactions to boost the market, a top exchange official said Saturday.

The platform can facilitate the block trade by providing information for traders in the transactions, said Geng Liang, chairman of Shanghai Stock Exchange.

Block trade volume jumped tenfold last year in Shanghai Stock Exchange, Geng said, while transaction deals increased 12 times from a year earlier.

He said there is still plenty of room for block trade growth in China.

A block trade is a trade submitted for sale or purchase of a large quantity of securities, which usually occur between institutional parties at a fixed price.