Derivatives licenses issued

Citigroup, Standard Chartered Bank, Bank of Tokyo-Mitsubishi and Mizuho Financial Group look set to win derivatives trading licenses, said a banker quoting a China Banking Regulatory Commission source. HSBC said its application has already been approved. BNP Paribas, Societe Generale, and other banks have applied for licenses. Regulators had allowed only domestic banks in the market since trading began in March. China will reportedly introduce stock index and fuel oil contracts soon. Regulators banned trading in treasury bond futures market in 1995 because of price rigging.