Thomson Reuters and GFI to Launch Chinese Money Broker

Reuters/Petar Kujundzic

Farah Khalique of the Financial News writes that the international news and data provider Thomson Reuters and interdealer-broker GFI have teamed up with China’s State Development and Investment Corporation Trust to launch a voice and electronic brokerage for the country’s domestic money markets.

It will be based in Beijing and target financial institutions within China that trade the national currency, the renminbi, and other market instruments.

Colin Heffron, president of GFI Group, said the timing was right for a joint venture, given China’s effort to internationalise its currency and develop new financial products.

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