Knight Asia, the Asian arm of US-based agency brokerage Knight Capital, will start trading in nine markets in Asia from today, as it looks to establish a presence in the region.
The firm has been approved for membership to the Hong Kong Stock Exchange (HKEx), and will access markets in Japan, Singapore, Malaysia, Thailand, Indonesia, Philippines, Australia and New Zealand electronically through other brokers while it establishes its own remote connections.
“We have taken a measured approach to setting up in Asia,” Kyle Stewart, managing director, head of institutional Asian equities, Knight Asia, told theTRADEnews.com. “After the internet bubble burst; DMA, best execution and unbundling fundamentally changed the business in the US and Europe. Those changes have been slow to move to Asia, but we believe they are coming and that the recent market turmoil will be a catalyst. Most sell-side firms in Asia were structured to distribute research, meaning execution was really an afterthought. Knight’s opportunity in Asia is that we can start from a blank sheet of paper and build a business that is exclusively focused on providing customers with the highest quality executions.”
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