The TRADE Asia, Issue 2

A proponent of introducing anonymity to exchanges, Mark Northwood, head of trading at Fidelity International in Hong Kong, spoke to The TRADE Asia about the impact of crossing engines in the region and whether this is likely to result in more efficient price discovery or merely serve to fragment liquidity.

The Securities Exchange Board of India (SEBI) announced in April that it plans to allow brokers to offer DMA to institutional investors for the first time. Until now, the Indian authorities have only permitted one-touch DMA, with clients forced to place orders with a broker for trade execution. Is one-touch DMA an anachronism that’s had its day?

Mark Maloney, director of autobahn Equity® sales at Deutsche Securities in Tokyo, looks at strategies traders can deploy to optimise IS-benchmarked orders.

Grace Lin, managing director, Citi’s head of Electronic Execution Asia Pacific, and Morgan Dunbar, director and co-head of Electronic Execution, Nikko Citigroup Limited, examine the impact of market volatility on customer use of algorithmic tools and the information they should be seeking from their brokers to trade effectively.

Investors in Asian markets are beginning to experience the benefits of internal crossing as global brokers bring their version of the service to markets in the region. Takayuki Saito, executive director, head of Direct Execution Sales Asia Pacific, UBS, explores what clients should expect from the introduction of these services.

Institutional participants in Asian markets, used to sitting in long queues at the exchange, are natural targets for crossing solutions, says Brook Teeter, director, equities, Advanced Execution Services, Credit Suisse in Hong Kong.

Punit Mittal, head of execution products, BNP Paribas, Tokyo explains why brokers in Asia may choose to put institutional flow through local peers rather than direct into the market.