Stoxx aims for Chinese stock market

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Stoxx Ltd, a global index provider, is seeking local partners to develop financial products for the Chinese market, said Chief Executive Officer Hartmut Graf on Thursday.

"We hope to join hands with local financial institutions to develop products targeting local consumers," Graf said at an official ceremony held in Shanghai to unveil the Chinese version of Stoxx name.

The Chinese name will be used to represent Stoxx's brand and innovative index concepts in China, he said.

With the Chinese name, he said, Stoxx plans to license its indices to local funds manager as part of its strategy to expand business in the Chinese market.

"As our business grows in China, the importance of having a local version of our brand has become very clear to us. The move reflects our commitment to the Chinese market and our growing presence in it," Graf said.

The Stoxx indices have been licensed to over 400 companies around the world as underlyings for Exchange Traded Funds, futures & options, structured products and passively-managed investment funds. It holds Europe's first and the world's third position in the derivatives segment.