HKEx receives approval to set up a financial information services business subsidiary in Shanghai
HKEx Information Services, the data arm of Hong Kong Exchanges and Clearing, is to establish a financial information services business subsidiary in mainland China, after receiving approval from local authorities to create a Shanghai-based subsidiary.
The new business, dubbed Ganghui Financial Information Services, will roll out a market data hub in Shanghai in the third quarter of next year to provide a local point of presence for direct distribution of HKEx market data to Mainland China-based traders, investors and data vendors, whereas most Mainland China vendors currently source HKEx's data via third parties.
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