A wave of purchases of futures brokers by securities firms in
China is believed to indicate a high degree of interest in
China Financial Futures Exchange (CFFE)s forthcoming
equity index futures, according to local sources.
Half Chinas licensed futures brokers are now owned by
share trading outfits, according to Huang Yuncheng, deputy
director of China Securities Regulatory Commission
(CSRC)s futures oversight department a figure up
from just 10% in 2006. Observers in China say the trend has
been fuelled exclusively by the desire of equity trading firms
to obtain futures licenses in advance of CFFEs first
products being introduced.
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