Metabit appoints Finetik as SE Asia rep
05 October 2004 | 434 views | 0
MetaBit (Japan) officially appointed FINETIK Partners (Singapore) as its Regional Representative for South East Asia on 4 October 2004. MetaBit’s representation in Singapore portrays a strategic milestone, allowing FIX based equities and derivatives trading through connectivity access points between Asia’s major financial centres.
This representation in Singapore supports MetaBit’s aim to expand its hedge fund client base in Singapore that trades Direct Market Access (DMA) with MetaBit’s connectivity tool, XiliXTM. Through XiliXTM, hedge funds and asset managers connect to MetaBit’s FIX hub in Tokyo, where traders access multiple brokers registerd on Tokyo Stock Exchange (TSE), Osaka Securities Exchange (OSE) and JASDAQ.
‘MetaBit sees increasing demand from Singapore based hedge funds trading DMA into the Japanese market. This is combined with a growing interest inside Japan to utilise MetaBit’s FIX hub and trading tools to place orders from Japan into the Singapore Stock Exchange via its broker members.’ Said Daniel Bürgin at MetaBit. ‘Japan’s revitalised economic environment has its investors looking for investment opportunities outside Japan. Singapore is one of the key markets in South East Asia, and we get demand for Japanese online brokers, securities firms and instiutional investors to connect through our Tokyo data centre.’
‘MetaBit is emerging as a key connectivity hub provider for FIX enabled equities and derivates trading from Japan to other strategic Asian markets.’
Confirms Stephan Stadelmann, appointed Representative Director for MetaBit and Managing Partner of FINETIK in Singapore. ‘We are very pleased to complement MetaBit’s product offering by opening to MetaBit our vast network of client contacts in Singapore and other Asian markets. These contacts range from institutional investors, to securities firms, and also exchanges.