Architects of Electronic Trading: Technology Leaders Who Are Shaping Today's Financial Markets

CHAPTER 17

The View from Emerging Markets, China

Emerging financial markets are quickly developing into areas of opportunity, both for local companies and global market participants. These young markets are diverse, characterized by different market structures and unique regulations. It is ill advised for firms to follow a one-size-fits-all approach when considering participation in such markets.

On the technology side, emerging financial markets are gleaning insight from established financial markets and opting to self-develop solutions that fit local needs at the same time. This tendency is both positive and negative. On the one hand, companies are experimenting with innovative ideas and are arguably the best at understanding local requirements. On the other hand, by opting out of global standards like FIX (Financial Information eXchange), some in emerging markets unwittingly make it harder for them to compete on a global scale.

Although emerging markets are later entrants to the financial markets, they do provide valuable lessons in effective utilization of technology to address business needs. In this chapter, Ming Hua of Southwest Securities Company provides his insights on the state of the Chinese financial markets, business concerns, and how Chinese brokerage firms are leading the global markets in harnessing mobile technology to serve the vast retail-based community and engender customer loyalty.

■ Ming Hua, Southwest Securities Company

Ming Hua is currently designate ...