East meets West - the ambitions of Chinese securities and futures firms
Godingen, head of business development for Fidessa in
world watched last year as Chinese markets plunged. Speculation
ran rife as the West argued whether this was a correction, an
evolution or the beginning of the end.
in China, securities and futures firms remained largely
unruffled. State-owned, and backed by over US$3
foreign exchange reserves, these institutions have been looking
outward for a long time. The domestic market, large as it is,
is not big enough for the number of brokers (over 100
securities and over 200 futures)
saturating it. The government has started a domestic M&A
process, but overseas expansion is needed as well to create a
market – and firms – that can stand
toe-to-toe with their foreign counterparts.
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