Chinese Regulators Ask Money Brokers to Suspend Data Feed Business

Chinese money brokers are preparing to suspend their data feed businesses in the coming days after being instructed to do so by Chinese regulators on Tuesday due to data security concerns, sources familiar with the matter told Reuters. The brokers, which include the local joint ventures of Tullett Prebon and NEX International Ltd, currently feed price quotes to data vendors such as Wind Information Co and Sumscope Information Technology Co, and the move could potentially slow trading in the country's money and bond markets. The move comes after China announced plans to form a national bureau to manage its troves of data, as well as a new regulatory body consolidating oversight of the financial sector. Read more.