High-Speed Trader Optiver Boosts Hong Kong Office as China CallsEduard Gismatullin
High-speed trader Optiver will hire analysts in Hong Kong and move its senior partner in Asia to the city as the firm expands its business in Greater China.
“Our focus has become significantly stronger on the Asian markets with a particular focus on Hong Kong and China,” said Sydney-based Daniel Weinberg, senior partner in Asia Pacific who’s moving to Hong Kong in January. “I will be a lot closer to the action. The pie is getting much bigger.”
Optiver joins peers including U.S.’s Virtu Financial Inc. and KCG Holdings Inc. which see opportunities in China as the nation expands foreign investor access. Amsterdam-based Optiver trades commodities and futures contracts on the Shanghai and Dalian exchanges. The firm also has offices in Shanghai and Taiwan.
While Optiver is convinced in China’s long-term plans to further open its markets, a $4 trillion equity selloff and a probe into short selling and margin financing for stock purchases may deter some investors from entering or expanding in the country for now, Weinberg said.
“Right now, there is a little bit of holding pattern, because too much uncertainty is happening in the market,” Weinberg said.
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