Others News
- China CITIC in futures brokerage venture
Date: 23-Mar-2007 Sources: (Shenzhen Daily)
CALYON Financial, owned by Credit Agricole, is set to launch its futures brokerage joint venture in partnership with China CITIC Group, two sources familiar with the situation said Wednesday.
A futures brokerage arm of CITIC Group will have control of the venture and the deal is expected to be announced as early as next week, the sources said, without elaborating. The government has revamped its futures regulations to allow foreign institutions to participate in financial futures, the first of which, stock index futures, is expected to be launched in the first half of this year. Currency and interest rate futures are expected eventually.
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