NEW YORK, Oct. 9, 2018 /PRNewswire/ -- Haitong International
Securities (USA) Inc. ("Haitong International (USA)"), a
subsidiary of Haitong International Securities Group Limited ("Haitong International"; 665.HK) in Hong
Kong, today launched its market-making business in the United States, becoming the first
Chinese market maker on NASDAQ. This move is not only another milestone in the company's global business, but it also serves as a
major breakthrough in filling the gap of the absence of a Chinese market maker on NASDAQ.
As an international broker dealer, Haitong International (USA) launched this new business to
provide additional options for listed companies in the US, especially China concept stocks along
with local investment banks. It is expected to attract more Asia-Pacific investors to trade on
NASDAQ.
Dr. Lin Yong, Deputy Chairman and CEO of Haitong International said, "Market makers are a
critical component of the financial ecosystem in the US. With an established market-making business in Hong Kong, Haitong International is confident in expanding its capability to the global markets. The company
will first focus on China concept stocks as its major market-making target and adjust its
coverage gradually, based on the market as well as the needs of clients in an effort to better serve global investors by linking
up the Chinese and overseas capital markets."
Since its successful acquisition of UK and US assets from Haitong Bank in early 2018, Haitong
International has been steadily expanding its business in the US with strong execution and sharp market insight. The firm
obtained Qualified Intermediary status with the US Internal Revenue Service (IRS) and became a member of NASDAQ. It also
completed its first IPO of a Chinese company listed on the New York Stock Exchange (NYSE) and the first USD convertible bond
issued for a NASDAQ-listed enterprise in June 2018.
In comparison to the Designated Market Maker (DMM) of the NYSE, NASDAQ implements a multiple-market-makers system. Due to the
success of this system, NASDAQ has become the world's second largest exchange after NYSE, with nearly 5,400 companies listed,
total market capitalization of over USD 1 billion and over USD 1.2
trillion trade volume.
In the future, Haitong International will establish a global platform of investment banking, trading and execution and
investment services centering on New York, London, Singapore and Hong Kong, and continue to foster its business expansion
worldwide in electronic trading, market making, institutional client services and investment banking services.
Haitong International Securities Group Limited
Haitong International Securities Group Limited ("Haitong International"; Stock Code: 665.HK), together with its subsidiaries, is
an international financial institution with established presence in Hong Kong and a rapidly
expanding network across the globe. It strives to serve as a bridge linking up the Chinese and overseas capital markets. The
parent company of Haitong International is Haitong Securities Co. Ltd ("Haitong Securities", Stock Code: 600837.SH; 6837.HK).
To date, Haitong International is well positioned to serve about 200,000 corporate, institutional, as well as retail and
high-net worth clients worldwide. Its well-established financial services platform provides corporate finance, wealth management,
asset management, institutional clients (key businesses include fixed income, currency and commodities (FICC), derivatives,
institutional equities) and investments business, and a full spectrum of financial products and services. Haitong International
possesses a sound risk management system that is in line with international standards. The company has been assigned a "Baa2"
long-term issuer rating by Moody's and a "BBB" long-term credit rating by Standard and Poor's. Haitong International has a global
financial servicing network covering the world's major capital markets including Hong Kong,
Singapore, New York, London,
Tokyo, Mumbai, and Sydney,
thereby making it a leading global financial institution with international competitiveness, systematic importance and brand
influence.
View original content:http://www.prnewswire.com/news-releases/haitong-international-usa-becomes-the-first-chinese-market-maker-on-nasdaq-300727821.html
SOURCE Haitong International