ASX’s on-the-ground presence will enable ASX to get closer to and better service its growing customer base in the Asian region.
The new office coincides with the establishment of an ASX direct connection hub in Hong Kong. The hub will provide connectivity from Hong Kong to Australia’s financial markets community in the Australian Liquidity Centre via the ASX Net Global network, according to ASX.
ASX Net Global is ASX’s fast and secure managed network, which already has points of presence in Chicago, London and Singapore. ASX has existing international offices in Chicago and London.
Peter Hiom, ASX’s Deputy CEO said: “Asia is the world’s fastest growing economic region and the source of increasing ASX customer flows. The establishment of an office in Hong Kong, coupled with an expansion of our global hub network, reflects ASX’s commitment to Asia.
“Being closer to our customers in the region allows ASX to deliver a more timely, informed and competitive service. We now have points of presence in every region with strong financial markets communities, enabling ASX customers in the world’s major financial centres to access ASX’s products and services.”
ASX has a history of active engagement in Asia. The Spotlight series, which showcases small to mid-size ASX-listed companies to potential investors, has been held in the region for eight years. In 2014, ASX launched a renminbi settlement service with the Bank of China and in early 2015 signed an MOU with the China Futures Association. ASX operates some of the most liquid and mature financial markets in the region. The A$ interest rate futures market is the largest in Asia, with a notional annual value of over $40 trillion.