jpmorgan-to-trade-china-futures

JPMorgan to trade China futures

China's securities regulator approves a joint venture between JPMorgan and a Mainland commodities futures broker.
JPMorgan will start trading commodities futures in China next year after winning approval to form a joint venture with Zhongshan Futures, a small broker based in Guangzhou province.

The approval from the China Securities Regulatory Commission will give JPMorgan access to China's futures exchanges in Shanghai, Zhengzhou and Dalian, giving it a presence in one of world's fastest growing futures markets û turnover in Shanghai, which accounts for 60% of the market, has grown from Rmb667 billion $88.6 billion in 2000 to Rmb12.6 trillion last year.

This joint venture gives us the opportunity to bring our global reach and expertise to new markets, says Jerome Kemp, joint chief executive of JPMorgan's ever-expanding...
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