Nov 14 2018, 6:15 AMNov 15 2018, 8:12 AMNovember 14 2018, 6:15 AMNovember 15 2018, 8:12 AM
UBS is looking to establish a majority stake in its China securities joint venture. Once regulatory approval is secured it will likely boost capital at UBS Securities to a minimum of CNY2bn ($287m). The intent is to grow in more investment-heavy business like margin financing and also be allowed to get in on market-making in over-the-counter equity derivatives. In the last few years UBS has been trying to expand into new markets such as China, but so far has not made much headway. Its push here would decrease its dependence on China’s cash equities business.