Breaking: CMC Markets Opens Shanghai Office in Latest APAC Push

CMC Markets’ expansion into the Asia-Pacific (APAC) Asia-Pacific (APAC) The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or Read this Term) 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.

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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.

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.

Veteran appointment

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 Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term 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.