UBS opens futures brokerage in China

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UBS opened a financial futures brokerage service in China, allowing it to tap the country’s $64tril market.

“Although the cost of trading financial futures has increased since July last year, we continue to see growing demand,” Yaotian Shou, general manager of UBS Futures, the unit providing the services, according to an e-mailed statement on Monday.

Bloomberg News reports that while China’s stock market rout last year has raised the cost of trading index futures, volumes have soared 154% to $64tril in 2015 from the year before, according to the Chinese Futures Association.

UBS joins JPMorgan and Citic Newedge Futures, the joint venture between Citic Group and Newedge Group, in accessing the Chinese market.

To access the complete Bloomberg News article hit the link below:

UBS Starts Chinese Futures Broker to Tap $64 Trillion Market

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