Dramatic changes to Asia's futures industry this year have resulted in a flurry of new strategic initiatives by the region's brokerages. Rupert Lee reports
Rapid growth in newer markets such as Taiwan, deregulation
opportunities in India and China, a sharp drop in Singapore
Exchange Eurodollar volumes, a surge in hedge fund business and
the rise and rise of electronic trading have been catalysts
that have forced brokerages to devise strategic responses.
JPMorgan and CSFB are opening new offices in Taiwan, ABN
Amro has just announced a deal in China (see pX) Refco is
pushing Indian commodity futures, Fimat entered the Japanese
commodities market late last year, and Asian brokers are hiring
electronic sales staff and ramping up their electronic
Top brokers in the region contacted by FO Week were
unanimous in identifying electronic trading as the most
Steve Ng, ABN Amro's regional head of futures told FO
Week, "In the past, Asian brokers trying to market
electronic trading to clients found a slow pick- up rate. But
clients such as Asian and Japanese banks, local hedge funds and
other major traders are now much more receptive. It's finally
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