London Stock Exchange (LSE)

The UK could allow easier market access for specialist trading houses that don’t hold retail deposits, according to the head of the Financial Conduct Authority in pre-released remarks.

Online fashion retailer Shein is preparing to start early, informal meetings with investors to gauge interest ahead of a potential initial public offering in London.

Chew notes that although the STI was on course to make a 17-year high with significant stock market volumes, there has been nostalgia over the bull markets of the 90s and the lead-up to 2007’s peak.

London has been battling with a dearth of IPOs in the past couple of years, combined with a string of departures to New York.

Just eight companies have raised US$774 million ($1 billion) via UK IPOs in the year to date

Last year, the UK generated more profits for the company than Hong Kong and mainland China combined.

“We do not believe the status quo is an option,” the UK’s Financial Conduct Authority said in a policy statement.

Shein has filed confidentially for a listing in London instead, according to people familiar with the matter.

“We genuinely think creating an ecosystem that supports the scaling and the health of companies is absolutely our job.”

The US approved its first group of Bitcoin products in January, and they’ve since swelled to oversee some US$60 billion in assets.