NYSE Euronext Liffe Eyeing Asian Growth; Focus On China
12 Octubre 2009 - 5:16AM
Noticias Dow Jones
NYSE Euronext Liffe, the derivatives trading business of NYSE
Euronext (NYX), is looking for growth in Asia, particularly China,
a senior executive from the bourse operator said.
"Longer term, the Greater China region is important to our
group," Paul MacGregor, director of fixed-income derivatives at
NYSE Liffe, told Dow Jones Newswires.
The company has agreements to cooperate with the Dalian and
Zhengzhou commodity exchanges. The company also has a 5% stake in
both the National Stock Exchange of India and the Multi-Commodity
Exchange.
Much of NYSE Liffe's current business is in the U.S. and Europe.
In the Asia-Pacific region, Japan makes up the bulk of its
business. The firm would like to see more business in other parts
of Asia, such as Hong Kong.
"In Asia, most of the trading is still in equities, but that's
changing," MacGregor said.
In efforts to attract customers, NYSE Liffe is running a
promotion to new customers offering 1 million lots of Euribor
options to trade or six months of free trading.
The firm has also applied to the Hong Kong Securities and Future
Commission to set up a technical point of presence, giving
customers in Hong Kong a way to plug in directly into its trading
network. The company has already set up a technical point of
presence in Singapore.
Interest in exchange-traded products including options and
futures has taken off as investors such as hedge funds move to
reduce exposure to over-the-counter products in the wake of the
Lehman Brothers Holdings Inc. bankruptcy.
-By Ellen Sheng, Dow Jones Newswires; 852-2832-2336;
ellen.sheng@dowjones.com