Citic Aquires Stake In Equities And FX Firm BTIG, Expansion Eyed

China’s largest brokerage Citic Securities Co., has announced the acquisition of a stake in US-based BTIG, a firm offering equities, options, and fx, in its latest bid to secure more exposure amongst international investors, according to a BTIG statement.

This move represents the latest push by Citic to expand into the realm of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, specifically after investing in another US asset management fund run by former FX concepts executives. BTIG maintains over 450 employees in the US, and deals in a variety of financial instruments, however the focus of the deal remains on equities and fx, two areas Citic wishes to increase its competitiveness against rival firms such as Goldman Sachs Group.

According to Fanny Chen, a Hong Kong-based analyst at Haitong International Securities Group in a phone statement on the acquisition, “the deal demonstrates Citic’s determination to expand overseas. It will further cement Citic Securities’ leading position in China’s brokerage industry. A large overseas operation is a great advantage as China opens up its capital markets.”

BTIG has had a very successful run since its inception over a decade ago, opening up new offices and operations across the US, Europe, and Australia. “BTIG plans to use the funds to add to its research and banking businesses. Many have concluded that electronic trading is more profitable, and the reality is there is still a need for high-touch service. Our model is all about relationship, trust, service and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term,” added Steve Starker, co-founder of BTIG in an accompanying phone statement.