41497 - Sumscope

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Summary of Investment Information

Project Number

41497

Company Name

SUMSCOPE INC.

Date SPI Disclosed

Nov 16, 2018

Country

China

Region

East Asia and the Pacific

Projected Board Date

Dec 18, 2018

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Mar 29, 2019

Department

Equity Portfolio Management

Industry

Financial Markets

Previous Events

Approved : Feb 7, 2019
Signed : Mar 19, 2019
Invested : Mar 27, 2019

Sector

Exchanges (Trading Systems)

Project Description

Ningbo Sumscope Information Technology Co., Ltd (“Sumscope” or the “Company”) is a financial technology company, providing financial information, trading data and work solution service for the renminbi fixed income, currency and commodity markets (FICC). Its main product is a software terminal - QB, which is a desktop application for institutional traders to access real-time quote, data and analytics for domestic FICC market including FI/corporate bond, money market instruments, government bonds and derivatives.

By supporting Sumscope, IFC will help establish core market infrastructure in the FICC markets that should result in enhanced transparency through faster price discovery and increasing interconnectivity between buy-side and sell-side market participants. Sumscope is raising equity capital to further develop its business.

The Company was founded in 2010 and is headquartered in Shanghai, China Sumscope is raising funds to expand its staff, operations, and services.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	15.0

Development Impact

The project will assist in improving secondary market liquidity in the bond and broader fixed income market and thereby provide financial institutions with greater access to the markets. It will also provide value to the development of the interest rate and foreign exchange derivatives market, which will result in reducing volatility. A more developed fixed income market can activate savings, enhance competition with bank-based and other types of finance for non-financial corporates, and provide long-term financing.

E&S Category Rationale / Risks and Mitigation

This is a Category C project according to IFC's Environmental and Social Review Procedure, as a low level of environmental and social (E&S) risk can be expected in this project. The principal Performance Standards (PSs) applicable to the project are PS1 and PS2. Sumscope provides online real-time financial information and data services using rented office and no custom-made equipment. So the key E&S risk in this project exists in Sumscope’s management of human resources. IFC will require Sumscope to implement documented policies and procedures on its management of human resources consistent with IFC’s Performance Standards for the duration of IFC’s investment and to report to IFC on any E&S incident.

Contacts

For Inquiries About the Project, Contact

Ningbo Sumscope Information Technology Co., Ltd
Marvin Ma
Head of Strategy and Operations
0086 (21) 6020-3269
marvin.ma@sumscope.com
16F, Building 2, Lujiazui Century Financial Plaza, No. 759 Yanggao Road(S), Pudong, Shanghai, China 200127
www.sumscope.com

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Local Access of Project Documentation

16F, Building 2, Lujiazui Century Financial Plaza, No. 759 Yanggao Road(S), Pudong, Shanghai, China 200127

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