Money brokers eye China

Leading interdealer brokers, the middlemen in currency and fixed-income markets, are looking to establish themselves in they believe could become a lucrative China market. Although mainland capital markets are small and generally unsophisticated, recent regulatory changes may give foreign brokers a chance to play a bigger role. The changes have led to a flurry of activity among international firms to find local partners and set up operations, the South China Morning Post reported. The potential new market is attracting players from Britain to Japan, with the world's largest dealers such as Icap, Tullet Prebon and Cantor Fitzgerald looking to set up joint ventures.