Swiss banking giant UBS has made further in-roads into China with news that UBS Futures has launched its financial futures brokerage service on the mainland.
Following its receipt of «trading membership» from the China Financial Futures Exchange (CFFEX), UBS Futures (UBSF) in China has launched a financial futures brokerage service. The CFFEX membership now allows Asia's largest wealth manager to offer an increased range of structured solutions to its institutional clients, UBS said in a press release.
In April 2016, UBS Securities increased its stake in UBSF from 95.4 percent to 100 percent.
«China is one of the most important markets globally for UBS, and we are committed to expanding our product offerings to cater to client needs. We are honoured to become a member of CFFEX and are truly excited about the great business opportunities in China's futures market with strong growth potential,» said Eugene Qian, Country Head and President of UBS China.
First With Full Licences
According to the Chinese Futures Association, in 2015, trading turnover in financial futures stood at RMB 418 trillion, an increase of 154 percent compared to 2014.
UBS Securities Co. Limited (“UBS Securities”) is the first foreign-invested securities firm in China with full licenses to conduct businesses including securities brokerage, securities investment consultancy, financial advisory related to securities trading and securities investment activities, securities underwriting and sponsoring, securities proprietary trading, securities asset management and distributing financial products.
