BOC buying web brokerage
(Hong Kong) - Bank of China (BOC) is buying a Hong Kong web based brokerage from Hutchison Whampoa and Credit Suisse First Boston and looking to sell online stock services into its Hong Kong customer base.
Hutchison and Credit Suisse have agreed on the sale and purchase of Hutchison CSFBdirect to the market's second largest bank.
The market's regulator cancelled plans in January to end the minimum trade commission of 0.25 percent off the back of job loss concerns in a stock market that recorded a drop in trading volumes of one third last year.
The market's regulator cancelled plans in January to end the minimum trade commission of 0.25 percent off the back of job loss concerns in a stock market that recorded a drop in trading volumes of one third last year.
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