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8securities Targets China Traders for Online, Social Brokerage

Nov. 1 (Bloomberg) -- A pair of former E*TRADE Financial Corp. executives plan to start an online brokerage in Hong Kong early next year targeting local and China traders with social-networking tools.

The site, called 8securities.com, will be in English and Chinese and allow trading of U.S. and Hong Kong securities, Mikaal Abdulla, chief executive officer of 8securities, said in an interview in Beijing today. The system includes features that let users track advice from other investors, whose returns can be verified for trades done on the site, he said.

The site is set to begin in the first quarter, Abdulla said.

Abdulla is starting the site with Mathias Helleu, chairman of 8securities. Helleu previously was head of international operations for E*Trade.

To contact Bloomberg News staff for this story: Edmond Lococo in Beijing at elococo@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

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