Hong Kong-based institutional investors and broker-dealers are being given the chance to trade British equities through Tradepoint, a rival electronic London exchange set up in 1995 to challenge the dominance of the London Stock Exchange. Any institution that has Bloomberg will be able to trade any London-listed stock in the FTSE-100 index and about 60 other stocks. In contrast to the London Stock Exchange, which charges large amounts to be a member, Tradepoint says that anyone can join provided they agree to comply with Tradepoint's regulations. Last week, Hong Kong's Securities and Futures Commission authorised Tradepoint to start providing its services. 'This is an important step in broadening the market reach of the Tradepoint Stock Exchange,' said Tradepoint chief executive Nic Stuchfield. The company has approval from the United States Securities and Exchange Commission and access is available from the European Union. Tradepoint accounts for 1-2 per cent of all trade over the London Stock Exchange's SETS system, introduced last year. SETS and Tradepoint compete against each other. A recent move by the London Stock Exchange to delay the opening time of SETS to solve teething problems, prompted Tradepoint to offer dealers a discount if they displayed prices on Tradepoint while SETS was closed.