Investors on the Chinese mainland can now trade securities through a single account at different brokerages and stock exchanges as the unified account platform—a mechanism designed to integrate different trading systems in the securities markets—was officially initiated on October 8.

As a result, investors can switch among different brokerages without opening new accounts and closing their existing ones. They can also use the platform to operate multiple sub-accounts for different types of securities and investment purposes, according to the China Securities Depository and Clearing Corp. Ltd., a state-owned clearing service company.

Previously, individual investors had to pay separate account fees if they wanted to trade in Shanghai and Shenzhen stock exchanges. Under the new rule, they are only required to pay a one-time fee of 40 yuan ($6.5) in order to trade in the markets.

Analysts said that the reform is likely to attract fresh capital to the stock markets.