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China to launch stock-rights pledge business

2013-05-28 09:42 chinadaily.com.cn     Web Editor: qindexing comment

Stock exchanges in Shanghai and Shenzhen ran trial brokerages' pledge of stock-rights trading recently to prepare for the official launch of the business, the Securities Times reported on May 27.

China may launch its first brokerages' pledge of stock rights in June, said the paper. As many as 18 brokerages in China, including some of the biggest ones in the domestic market, participated in the trial on May 23.

Analysts said the launch of brokerages' pledge of stock rights means brokerages will be able to expand their businesses, and there will be fiercer competition between trusts and brokerages.

Analysts said annual volume of new stock-rights pledge businesses may reach 400 billion yuan ($65.3 billion). Brokerages with advantages in research and sales channels may win market share.

A source with the Shanghai-based brokerage said the stock-rights pledge will become an important new income source when the business is launched.

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