Asia has long been a coveted goal for numerous venues. This is more relevant now than ever amongst brokerages looking to explore new growth margins. Finance Magnates spoke with Sudarshan Darade, Head of Sales at CMS Prime for his in-depth perspective on the company and its future goals.
CMS Prime is poised for one of its largest expansions to date. Can you dive deeper into its plans for Southeast Asia and Vietnam?
CMS Prime has always been at the vanguard of developments in the industry. This includes our most recent foray into the Southeast Asian markets, which we peg as an area for strong growth and expansion.
What this means is a continued presence in the region to increase visibility of our brand and services. As such, we will be participating in all regional expos and events to help accomplish this aim, which we feel is key success in the area.
In terms of specific locales, China and Vietnam are of particular interest to us and we will be looking to bolster our presence and influence amongst these dynamic markets.
Stay tuned for more updates later this year and next from CMS Prime as we develop ourselves in this region.
What are barriers to success or entry that brokerages traditionally experience in this region and is this something CMS Prime has dealt with?
It’s no secret where the best growth markets are – i.e. Southeast Asia. However, this is easier said than done and many brokers have consistently failed to succeed in this region.
There are a wide range of factors for this, however, we our skilled staff has done its homework and is looking to make a splash in Southeast Asia.
As mentioned above we want to get our name out there and show the local market that we intend to instill confidence in our brand.
We will be looking to introduce ourselves to future clients while also traversing cultural barriers in the area. This is one of the biggest mistakes other companies make, which seek to just transplant operations to the region in hopes of tapping into the market.
As we have seen, a more stable presence in the region and effective marketing techniques are the most important attributes a broker can have in Southeast Asia.
It is for this reason we have focused our agenda and time into attending major events and expos in the region.
Many brokers feel the Asia-Pacific region (APAC) has the largest potential for growth. Does CMS Prime agree with this assessment and how do you feel the group will ultimately benefit from servicing this market?
Absolutely we agree with this assessment and do not think it’s particularly close. European brokers are looking to get into new markets but there’s only so many places on the globe left to explore.
Many brokers point to Southeast Asia or APAC as well as Latin America as the best remaining growth markets. Southeast Asia’s surging population and interest in services and investment products obviously are the trump card.
We feel CMS Prime will benefit from a prolonged presence in Southeast Asia in a bid to get our name out and show locals we mean business.
There is a wealth of clients to tap into there and our initial agenda is simply the first step in our strategy to market ourselves there.
What is CMS Prime’s outlook for the rest of 2019 and more specifically 2020. Are there any developments or other key industry updates we should know about?
For 2020, CMS Prime will tap into new geographies to cater the market and further strengthen our presence globally. As discussed earlier, South East Asia stays to be prime focus for CMS Prime in 2020 alongside other countries.
We will also introduce new products like more indices, CFDs and stocks to provide more options to our clients. CMS Prime is working to provide advanced platform tools in near future to make the analysis process easier and more accurate and help clients to save time and boost profits.