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Six brokerages get nod for margin trading
(Xinhua)
Updated: 2010-03-20 10:29
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China's securities regulator announced Friday it approved six securities companies to pilot margin trading business.
The approvals came more than two months after the State Council, the cabinet, gave the green light to pilot the business on a trial basis.
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The CSRC in January issued a guideline for margin trading, saying applicant securities companies should each have at least 5 billion yuan ($732 million) of net capital in the last six months.
Securities companies were also required to use their own funds and securities for the margin trading business.
