SHANGHAI, Aug. 22 (SMM) –The China Securities Regulatory Commission (CSRC) announced on August 19th that it will approve the first batch of 14 futures companies to obtain qualification certificates for futures investment consulting business, and after the alteration of industrial and commercial registration, they can conduct futures investment consulting business.     

According to the Pilot Measures for the Futures Investment Consulting Business of Futures Companies, which was effective May 1st 2011, futures companies applying for the qualification of investment consulting business should meet the requirements for RMB 100 million registered capital, RMB 80 million of net capital, 1 senior manager and five staffs who have passed the exam of futures investment analysis. Based on the results of recent two futures investment analysis exams held by the China Futures Association, of all domestic 163 futures companies, 63 meet the above requirements. By far, 43 futures companies have submitted application materials to China Securities Regulatory Commission.

The first batch of futures companies qualified for futures investment consulting business are: Hongyuan Futures, Huatai Changcheng Futures, China Merchants Futures, Ping’an Futures, Zheshang Futures, Hualian Futures, Shenyin Wanguo Futures, Guangfa Futures, Zhejiang Yong’an Futures, Haitong Futures, Xinhu Futures, Green Futures, Nanhua Futures and Zhejiang Zhongda Futures. This marks a beginning of a diversified and differentiated era for the futures industry, which only had broker consulting in the past.

The introduction of futures investment consulting business will play a significant role in guiding futures companies to provide more superior professional services for their clients and investment institutions, meeting client requirement for growing risk management, hedge trading and other professional services, and promoting the function of futures markets.