China's Bank of Communications has signed a joint venture agreement with Sinobull Information to develop foreign exchange products.
The two businesses have jointly developed the Foreign Exchange Bao quoting system, which they will market to institutional and individual forex investors throughout China. The system provides real-time quotes from all international exchanges, trade executions, account management and market research reports. Joint initiatives also include forex trading seminars to be held in all branches of the bank, first in Shanghai, followed other major Chinese cities.
Sinobull Information is part of the Sinobull Financial Group, a financial data provider, technology developer and owner of the financial portal, Sinobull.com. The group, which is in turn owned by Frankfurt-listed Harcourt Companies, recently signed a partnership alliance with Equis International, a wholly-owned subsidiary of Reuters Group. They plan to localize Equis' MetaStock family of products and market them to financial institutions and investors in Greater China.