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Nyse Euronext targets Asia Pacific markets

31 January 2008  |  4521 views  |  0 Digital Abstract

In a further move to extend its presence in the Asia Pacific region, Nyse Euronext is to expand its Liffe derivatives business in Singapore as part of strategic push to get greater traction in emerging Asian growth markets. The news comes a day after the US exchange said it is establishing an electronic trading team in Tokyo in a move to provide Japanese traders with direct access to its markets in the US and Europe.

The US exchange has hired Eurex's Stefan Ullrich to co-head the Singapore office along with Anthony Payne, a proprietary trading business specialist who has also recently moved to the city state from Liffe's London office.

The two will lead the Liffe Singapore office, which will be re-located to offices occupied by Nyse Euronext's TransactTools team in Singapore.

Liffe opened its Singapore office in 2006 following the previous year's launch of a telecom hub that made it possible for customers in the region to access the Liffe market directly. In 2007 the derivatives market extended trading hours for its benchmark Euribor futures contract, enabling customers in the Asia-Pacific time zone to trade throughout the day.

"We are expanding in Singapore because we want to be able to offer our Asian customers better access to our existing markets," says Garry Jones, Liffe executive director of business development and strategy. "We are giving even more priority to Asian clients in Singapore and South East Asia, as well as those in Japan, China, India and Australia."

Earlier this week Nyse Euronext said it is adding a trading technology team from its TransactTools business to its Tokyo office as part of an initiative to provide enhanced e-trading and DMA services to Japanese traders.

The exchange says its TransactTools Tokyo team is already involved in "a growing number of high performance trading infrastructure projects with Japan-based sell side and exchange clients".

Nyse TransactTools is seeing higher demand for direct electronic trading access across Asia Pacific markets and has recently added native support for Tokyo markets to its direct market access gateway product, says the US exchange.

"As the Asian capital markets continue their rapid growth, the demand for advanced trading technology and for sophisticated linkages between the US, Europe, and Asia will continue to grow," says Lawrence Leibowitz, EVP and COO of US products, Nyse Euronext. "Our enhanced presence in Tokyo will help facilitate this growth, and enable us to serve the needs of our customers throughout Asia."

The Tokyo move comes a year after Nyse Euronext and the Tokyo Stock Exchange signed an agreement to cooperate on the development of trading technology and investment products.

Liffe's expansion in Singapore and the Tokyo move comes at a time when Nyse Euronext is increasingly focusing on business opportunities in merging growth markets throughout Asia. Last year the US exchange acquired a five per cent stake in the Mumbai-based National Stock Exchange of India and opened an office in Beijing to attract listings on its cash markets.

Furthermore, according to a Reuters reports, Bursa Malaysia is in talks with Nyse Euronext "over a closer collaboration".

The Kuala Lumpur-based bourse, which is reported to be seeking a partner to help develop its markets, confirmed in December that it was holding talks with the Chicago Mercantile Exchange. However since then Nyse Euronext has also emerged as a potential collaborator for Bursa Malaysia.

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