China's three commodity futures exchanges are raising the
bar for firms to qualify as futures brokerages, a move which
could reduce the number active in the country.
From 18 February, Shanghai, Dalian and Zhengzhen exchanges
will require most of the country's brokerages, numbering over
175, to increase their minimum settlement reserve
accounts from CNY500,000 ($60,000) to CNY2m, according to
China's Business Daily. As a result, the Asia Pacific futures
head of one broker told FO Week, "there will probably
be 25 to 30 firms eliminated."
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