UBS enters China's financial futures market

The acquisition of a controlling stake in Shanghai Pumin Futures Brokerage underlines UBS's commitment to the market.

UBS Securities has agreed to buy a controlling stake in Shanghai Pumin Futures Brokerage in a move that will give the Swiss bank access to China’s burgeoning financial futures market

The UBS affiliate said it had regulatory approval to acquire a 95 42% stake in the firm and to invest Rmb90 million ($14 8 million) in the Chinese futures broker, underlining its commitment to the business

“… [We] hope to make available a financial futures brokerage service to our clients in the future and this complements our current offerings, including domestic equity advisory, QFII and RQFII brokerage, electronic trading strategy & execution and OTC derivative,” said Xia Yang, head of equities of UBS Securities

Shanghai Pumin...
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