Becomes first Malaysian bank operating a brokerage business.
Malaysia’s CIMB Group last week launched its institutional brokerage business in Taiwan after receiving approval from local regulators.
It now offers its institutional clients direct execution of stocks listed either on the Taiwan Stock Exchange or the over-the-counter GreTai Securities Market. The bank also provides research coverage of 68 Taiwan-listed stocks..
The addition of Taiwan means that CIMB now has a brokerage license in nine countries in Asia Pacific. CIMB now provides equity research on some 1,100 stocks in Asia Pacific, and will continue to expand that coverage for the next few months.
By the end of the year, it should cover between 1,100 and 1,200 stocks. This means it will have one of the biggest research footprints among all the banks in the region.
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