NEW YORK, April 27, 2016 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) announced that trading of Yintech Investment Holdings Limited (“Yintech”) (Nasdaq:YIN) commenced on The Nasdaq Stock Market on April 27, 2016.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/954f217b-6829-4fae-8f72-2a9940f5630b
Yintech is the largest online provider of spot commodity trading services in China by customer trading volume in both 2014 and 2015, according to Euromonitor. The company facilitates the trading of silver, gold and other precious metals and commodities for retail investors on three leading exchanges, namely the Shanghai Gold Exchange, the Tianjin Precious Metals Exchange and the Guangdong Precious Metals Exchange, which were the three largest spot commodity exchanges in China in terms of trading volume in 2015, respectively. Yintech provides their customers with comprehensive services, including account opening, investor education, market information, research, live discussion boards and real-time customer support.
“Today we celebrate a major milestone of the company by joining many incredibly innovative companies here at Nasdaq,” said Wenbin Chen, Chairman and Chief Executive Officer, Yintech. “Listing with Nasdaq will further strengthen our market leading position as we continue to offer unparalleled commodity trading services to Chinese investors.”
“Yintech has successfully developed a trusted investment services platform in a highly competitive and fragmented spot commodity trading market,” said Bob McCooey, Senior Vice President, Listing Services, Nasdaq. “We are excited to be the exchange partner for Yintech and many international companies as they aspire to grow their businesses and join the world stage.”
Nasdaq has been the leading exchange for international companies in the U.S. market, particularly companies from the Asia Pacific region. Three Chinese companies have launched an IPO in the U.S. so far in 2016, all on Nasdaq. A total of 100 Chinese companies are currently listed on Nasdaq, representing $199 billion in market capitalization.
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