Status of Stockbroking Industry Consolidation
As at 31 December 2007, the stockbroking industry comprised of 1 Universal Broker, 7 stockbroking companies with at least 1+1 mergers (“1+1” SBC), 5 foreign stockbroking companies under special scheme, 13 investment banks and 8 standalone stockbroking companies that h ave yet to effect any consolidation.
Of the 13 investment banks, one had obtained approval but had yet to commence operations. One of the 8 standalone stockbroking company has proposed to merge with a 1+1 SBC and a merchant bank to form an investment bank. The Universal Broker has also submitted its application to become an investment bank. Both the proposals are being considered.
Universal Broker |
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1+1 Stockbroking Companies |
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Investment Banks |
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Standalone Stockbroking Companies |
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Foreign Stockbroking Companies |
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* the merger proposal is currently being considered by the SC.
