Haitong International (USA) Becomes the First Chinese Market Maker on NASDAQ

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.

SOURCE Haitong International