US investment bank Lehman Brothers has set a firm timeline for the roll out of its proprietary crossing network Liquidity Cross (LX), in the Asia-Pacific region. Having recently added Japanese stocks to LX, Lehman said Hong Kong will follow in two months with Singapore and Australia set to launch shortly afterwards.
After running LX internally in Japan for the last few months to increase agency flow, Lehman’s clients are now able to connect directly to the platform and access Japanese stocks. The bank has also completed an Asia-Pacific roll out of trade alert system Panorama and LMX Advanced Strategies, its algorithmic trading suite.
Lehman said its increased offerings in the Asia-Pacific market are “driven by global client demand”.
Speaking to theTRADEnews.com, Anthony Brooker, head of electronic sales, Asia-Pacific at Lehman Brothers, said: “Offering our services in this region is a result of working closely with our clients. It helps that we have a customisable product offering so that we just have to take what we have developed in the US and Europe and implement it in Asia.”
In addition, Brooker noted that Lehman’s future offerings could expand away from equities into other asset classes such as futures.
“This is where we see the future of electronic and automated trading,” he said.