CITIC Newedge Futures Co.,Ltd is a joint venture in financial service business parented by CITIC Group and Newedge Group. Formed by CITIC Group and Newedge as a 52/48 joint venture, CITIC Newedge combines the knowledge and experience of two well established enterprises. As newly emerged player, CITIC Newedge is independently managed and regulated with significant growth in market share of futures brokerage business in China. It’s headquartered in Shanghai and owns sub-branches in Dalian and Ningbo. CITIC Group is one of the largest transnational conglomerate in China. It now owns 44 subsidiaries ( banks ) including those in Hong Kong, the United States, Canada, Australia, New Zealand. The company has also set up representative office in Tokyo, New York and Kazakhstan. CITIC's core business ranges from financial industry, industrial investment to service industries. By the end of 2008,CITIC's total assets stood at RMB 1631.6 billion with an after-tax profit of RMB 14.2 billion. Newedge is a world leader in multi-asset execution, and offer a complete set of clearing, prime brokerage and financing services. It’s headquartered in Paris, and with offices in the Americas, Asia-Pacific and Europe-Middle East. Newedge offers access to more than 80 global exchanges,and ranks No. 2 based on the CFTC’s (US regulator) tracking of customer assets on deposit.