Asia

Citi appoints a new head of markets for ASEAN; while UBS reshuffles its APAC team with a new head of global markets for Australia and a new head of derivatives and solutions for Australia.  

Upon completion Morgan Stanley IM’s stake in Morgan Stanley Huxian Funds will go from 49% to 100%; move marks a ‘strategic advancement’ in its China footprint.

The asset manager plans to take full ownership of China International Fund Management, which will be integrated into the firm’s global operating model.

The Taiwan Futures Exchange (TAIFEX) has listed a new covered call ETN tracking the Taiwan Strategy Index series, in a move the issuer says will increase diversity in trading strategy execution.

The synthetic order types now support products listed on Singapore Exchange, with plans to include products traded on Australian Securities Exchange, Hong Kong Exchanges and Clearing and Japan Exchange Group by year end.

The move will allow Cboe to increase its presence in the APAC region, while SBI will be able to benefit from Cboe’s expertise in equities and digital assets.

Speaking to The TRADE, Liquidnet’s APAC head of equities and global head of equity product says the new pre-market block liquidity will allow firms to engage with liquidity without trading throughout the day.

As part of the expansion, the market maker will begin to offer US fixed-income products to Japanese institutional investors.

The Futures and Derivatives Law creates potential for a huge new market – but means transactions with Chinese entities are likely to lose their UMR exemption, less than a month ahead of the final deadline.

New desk will provide clients within the APAC region with improved access to the firm’s products and services, while also maximising pockets of credit liquidity in an increasingly strained market.