Shanghai eases ETF rules in expansion drive

The Shanghai Stock Exchange (SSE) is striving to spur growth in its exchange-traded funds market by allowing several ETF managers to track the same index concurrently. Up until now ETF providers have enjoyed index exclusivity. By scrapping the regulation, the exchange is seeking to implement a market-orientated system to improve index efficiency. “The deregulation aims to drive healthy competition among FMCs and sustainable growth of the ETF market,” says David Xu, managing dire…