GFI Group Inc., a leading provider of wholesale brokerage services for the global financial markets, and Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced that they will be forming a joint venture with SDIC Trust Co., Ltd. of China to create a foreign exchange and money broker for the domestic Chinese financial markets.
GFI Group, Thomson Reuters and SDIC Trust meet the prerequisites required to obtain an application for a license; the official application materials are being completed and will be filed with the appropriate Chinese regulatory authorities. Thomson Reuters has had a presence in China since 1871 and today has offices in Beijing, Shanghai and Shenzhen, in addition to a dedicated Research and Development Centre in Beijing. SDIC Trust Co. Ltd. is a Chinese trust company whose history includes being incorporated with the approval of the People’s Bank of China, and is currently regulated by the China Banking Regulatory Commission.
Source: Thomson Reuters