Yuanta Futures broker eyeing Chinese market for overseas expansion

Carolyn Chou, vice chairman of Yuanta Futures, said her company is planning to open an information technology company in Shanghai after the Lunar New Year holiday -- Feb. 9-17 -- to provide IT services for futures trading in China.

Chou said the presence of the IT service company in Shanghai will be an alternative way to enter the China futures market, by building business ties with Chinese futures brokers.

Through the IT services, Yuanta Futures will provide a wide range of software solutions, such as product pricing and risk management, to its Chinese clients in the futures market, she said.

The ultimate goal, however, is to launch futures trading operations in China, Chou added.

She said 2012 was an important year for Yuanta Futures to extend its reach beyond the Taiwan, and a good foundation has been laid for further expansion.

In mid-November, Yunata Futures opened a subsidiary in Hong Kong's Admiral, the eastern extension of the business district Central. The unit is allowed to provide futures trading and advisory services to investors in the territory.

Through the Hong Kong unit, investors there can trade in the global futures markets 24 hours a day using the newly developed trading software Super 888, which serves as a global trading platform.

After it opens its IT service firm in Shanghai, Yuanta Futures said, it will formally make inroads into the markets in the greater China area.

In 2012, Yuanta Futures posted NT$2.51 (US$0.86) in earnings per share and is expected to issue a dividend of no less than NT$1.75 to its shareholders.

Chou said based on the company's closing share price of about NT$32 in recent sessions, the dividend yield will be higher than 5 percent, which exceeds the annual interest rate of around 1.3 percent offered by banks on time deposits, she said.

Meanwhile, rival Capital Futures Corp. posted NT$284 million in pretax profit or NT$3.08 per share for 2012. In December, the futures broker's pretax profit was NT$26.06 million or NT$0.28 per share.

On Friday, shares of Yuanta Futures closed up 0.46 percent at NT$32.70 in the over-the-counter market, while shares of Capital Futures ended up 0.76 percent at NT$26.45.

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