CMC Markets’ expansion into the Asia-Pacific (APAC) region continues with a new office in Shanghai. Having already set up shop in Beijing, the instalment of a Shanghai office shows CMC Markets’ continued commitment to expanding further into China as the company sees continued client demand over the past decade.
The Chinese market has been one of CMC Markets’ strongest areas of growth in recent years. Opting for Shanghai is a strategic choice for the group, which already has a hub in Beijing supported by its service team in Sydney. The latest expansion further binds CMC Markets to China, and will help strengthen its service there.
Head of CMC Markets Asia Pacific and Canada, Matthew Lewis, touched on the expansion: “China’s significance as a key player in the global financial landscape continues to grow and this trend reflects our business expansion in the region.”
New local hub poised to capture growth
CMC Markets has made steady progress in the APAC region over the past few years. Bolstering its presence in China is a different development entirely however, given its significance as a global player and what it means for the company’s business in the country.
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China has consistently demanded an improved trading infrastructure, a challenge that brokers have been tackling in different ways. The Great Firewall and resulting latency issues are among the most infrastructure-intensive efforts for the retail trading industry in the region.
“Having an office located in mainland China ensures better communication and a higher level of service to our clients, while demonstrating our commitment to traders in the market. Over the past ten years, we have invested heavily in our services in China including new technology, leading educational offerings and innovation of our platforms. This ensures that we continue to offer an exceptional proposition and standard of service to the Chinese market,” elaborated Mr. Lewis.
The office itself will be headed by Mr Biyi Cheng, who is highly proficient with the local market. He comes with over 12 years of industry experience as his career started with CMC Markets in Sydney. After 5 years at City Index he returned to his current company to become Head of Greater China whilst based out of Sydney.
“Biyi brings over fifteen years experience and relationships within the Chinese market to the role and is well placed to head up the Greater China region for CMC Markets. As a global business, our purpose is to make the financial markets truly accessible to investors, and this latest announcement further supports this mission,” said Mr Lewis.
Biyi Cheng commented on the new role: “The evolution of China’s financial policy and the need for investment and money management in the Chinese market is growing, providing great opportunity in China for an experienced provider of online trading like CMC Markets to deliver additional opportunities to investors and traders locally.”
“We already have a lot of experience and an in-depth understanding of this audience from our wider APAC offices, and as a local to Shanghai, I’m looking forward to continuing to grow the offering here,” he reiterated.