OTC Markets Group Inc
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Financials : Capital Markets |
Company profile

OTC Markets Group Inc. organizes securities into three markets based on the quality and quantity of information companies disclose. The Company provides services in three areas: Trading Services, Market Data and Corporate Services. Through its Alternative Trading System (ATS), OTC Link ATS, the Company connects the United States broker-dealers to provide liquidity & execution services for securities on its markets. The Market Data Licensing business line provides investors, traders, institutions, and regulators with a suite of enterprise and user market data licenses. Corporate Services business line includes the OTCQX Best Market (OTCQX), the OTCQB Venture Market (OTCQB) and the Pink Open Market (Pink), and its suite of disclosure and information services. Corporate Service products provide companies with solutions to engage and inform investors.

Closing Price
$50.48
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
185

10-day average volume:
8,667
185

Chinese regulators look to break up Ant Group's Alipay: report

9:11 pm ET September 12, 2021 (MarketWatch)
Print

By Mike Murphy

FT reports Beijing seeks a separate app for loan business as part of anti-monopoly crackdown

Chinese regulators are seeking to break up Alipay, the popular payments app from Jack Ma's Ant Group, according to a new report by the Financial Times.

According to the FT, regulators want Alipay to create a separate app for its loan business, and turn over user data for a new credit-scoring joint venture, in which Chinese state-owned business will have a significant stake.

Reuters first reported news of the joint venture last week.

Under the new plan, Alipay -- which has more than 1 billion users -- will no longer be able to check customers' credit worthiness internally, and will have to rely on outside credit scores. Citing sources, the FT added that Alipay will not be China's only online lender affected by the changes.

Earlier this year, Alipay was forced to set up a separate consumer-finance company that will hold Ant's two credit services, Huabei and Jiebei.

The moves are part of China's efforts to crack down on tech companies' monopolies. Last year, Ant Group's record $34 billion IPO in Hong Kong and Shanghai was suspended at the last minute after Ma, the company's founder, publicly criticized Chinese regulators.

Ma has since said Ant Group will follow regulators' demands, leaving open the possibility of a future IPO.

Ant Group is an affiliate of Alibaba Group , which saw its Hong Kong shares jump in early trading Monday after the report.

-Mike Murphy

	

(END) Dow Jones Newswires

September 12, 2021 21:11 ET (01:11 GMT)

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