The allure of the Asia-Pacific region is omnipresent among most FX firms keen to establish a permanent presence in the region.
Longstanding institutional FX company Sucden Financial took the step five years ago to establish a subsidiary in Hong Kong, a region which along with Singapore, represents a region with a large institutional FX industry.
Today, the company’s subsidiary, Sucden Financial (HK) Ltd, has been granted a a Type 3 (leveraged foreign exchange) licence by the Securities and Futures Commission (SFC) in Hong Kong.
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Sucden Financial operates in a series of markets, including commodities, equities and futures as well as FX, and on this basis the Hong Kong subsidiary replicates this ethos by acting as an introducing broker to the parent company for its futures and options business, and trades bullion directly for clients.
The new licence enables clients of Sucden Financial (HK) to trade FX directly with its brokerage desk or via one of its electronic trading systems, providing direct access to STP FX, with tight pricing and deep liquidity.
Michael Overlander, CEO of Sucden Financial Limited, made a statement on behalf of the company regarding the license which enables expansion across Asia: “With a firmly established reputation in the region, the leveraged foreign exchange trading licence demonstrates our commitment to our Hong Kong subsidiary and continued expansion in Asia.”
Raymond Mok, Head of FX and Bullion Development for Sucden Financial (HK) further added that, “Clients are now able to take advantage of the benefits of trading FX directly on our internationally recognised electronic trading platforms, as well as via our brokerage desk in Hong Kong.”
“We are looking forward to on-boarding corporate, institutional, and licensed retail brokers. The demand for trading FX in the region has grown significantly over recent years and Sucden Financial (HK) is now able to offer both electronic trading as well as traditional voice brokering” concluded Mr. Mok.