China’s online game operator The9 Ltd, play it today. announced record-breaking user numbers for the last quarter of 2007 as well as strong revenue growth in a conference call with investors and analysts Friday morning in Shanghai. China has become one of the largest countries in the world with a vast population and a huge […]
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SHANGHAI — China’s online game operator The9 Ltd. announced record-breaking user numbers for the last quarter of 2007 along with strong revenue growth in a conference call with investors and analysts Friday morning in Shanghai. “We had $58.1 million in revenues, representing 34 percent quarter-over-quarter growth,” said company chairman and CEO Jun Zhu. That is
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Firms answer regulatory, investor demands with added controls and third-party systems At the heart of Societe Generale’s recent EUR4.82 billion ($7.01 billion) in losses from unauthorized trades is the fact that the accused trader–Jerome Kerviel–was able to use his knowledge of the system to get around the checks and balances. Kerviel, an equities trader, started
Pre-trade Compliance: Better, Cheaper, Faster Read More »
Leading-edge collaborative tools and interactive sites pose monitoring burden As the Web 2.0 movement makes interactive applications and social networks such as Facebook ubiquitous on employees’ desktop computers, financial firms are facing the daunting task of monitoring these so-called greynets. Instant messaging security vendor FaceTime Communications estimates that there are more than 600 greynets worldwide,
The Web 2.0 Threat Read More »
SHANGHAI — “Milk and Fashion” producer Jay Rothstein is aiming to bring his high-profile, Chinese-produced film to U.S. audiences and also to sign a distribution deal for it to screen in major cities around China “within weeks.” The film first began to gain media attention in the U.S. last year when Jeremy Miller, former child
U.S. audiences get to drink Chinese-made ‘Milk’ Read More »
This article first appeared in Waters. The benchmark Shanghai Composite Index broke 6,000 points on Oct. 17, just as the World Federation of Exchanges held its annual conference in Shanghai. London Stock Exchange CEO Clara Furse, who attended the event, says this shows that the nation’s leading market, which joined the federation five years ago,
Another Leap Forward Read More »
A few years ago, it would have been hard to imagine Wall Street firms turning over key customer data to an Internet start-up. But in May 2005, Salesforce.com announced a major customer win: 5,000 Merrill Lynch & Co. financial advisers would use the Web-based service to track their customers. After a one-year pilot project, Merrill
Salesforce.com: The CRM ‘Hot Ticket’ Read More »
Nasdaq Stock Market has been granted approval to open an office in Beijing, just weeks after the Chinese Securities Regulatory Commission (CSRC) gave the New York Stock Exchange the green light. The CSRC, in a statement, said that Nasdaq will be allowed to engage in “non-operational activities such as liaison, promotion and research.” “We are
Nasdaq and NYSE Get Go-Ahead to Open Offices in China Read More »
Despite connectivity issues, regulatory hurdles and liquidity barriers, traders are eager to try out algorithms. Electronic trading and the use of algorithms in Asian markets continue to grow despite regulatory hurdles and technological bottlenecks. According to Goldman Sachs, the value of client-directed trade orders executed through algorithms during 2007 more than tripled in Japanese equities
Waters Exclusive: Asia Report Read More »
Emerging markets pose regulatory obstacles and provide fewer trading options but offer the biggest opportunities. When Lou Gerken first started investing in Asia in the mid-70s as an investment professional at London’s GT Capital, Sony was a small-cap stock and Japan was considered a risky, emerging market. Today, Gerken is chairman of San Francisco-based hedge
Hedge Funds: Ready, Set … Read More »
The Chinese government takes steps to put a lid on an overheated stock market. New Chinese investors are rushing into the stock market like buyers trying to get their hands on an Apple iPhone or Nintendo Wii. An average of 300,000 new brokerage accounts for investing in mainland equities and mutual funds were opened daily
Is China Too Hot to Handle? Read More »
Exchanges and regulators must brace for increased volumes as ATSes and crossing networks pour in resources, but governments are likely to remain protective. Alternative trading systems and crossing networks for equities are ramping up their presence in Asia this summer and while the exchanges are not likely to feel the searing heat of competition just
Article first appeared in FDM. What’s next for China? Best case, worse case and status quo scenarios are almost equally plausible. Here are eight questions about China’s future. 1. Is China’s growth sustainable? When China embarked on its economic liberalization, it was, effectively, a Third World country and a recipient of aid from the World
Don't bet it all on China Read More »
For five years, starting in 2001, the Chinese stock market headed down. Investors pulled out their money; brokerages went bankrupt. Then the Chinese government instituted a series of far-reaching… Read full article at Waters (subscription required)
In many respects, Asia has been following the U.S. and European lead on matters of market structure and regulation as Asian laws and technologies steadily edge closer to the world standards developed elsewhere. With the recent spate of memorandums of understanding among Asian exchanges, not to mention those between these regional markets and others in
Asia’s Alternatives Read More »
