Sumscope (IFC-41497)

Countries
  • China
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
SUMSCOPE INC.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 30, 2019

Disclosed by Bank Nov 16, 2018


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Project Description

According to IFC website, 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. 

People Affected By This Project

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.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Sumscope is a private company founded by Frank Wang in 2010. The Company has so far received funding from private equity capital firms and angel investors. Most of the existing shares are owned by the founder/CEO and other key management.

Contact Information

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

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/