NYFIX opens Hong Kong office

New entrant to the financial information exchange and STP market seeks to capitalize on Asia''s growth.

NYFIX, the electronic trading technology firm, has opened its first office in Hong Kong. The office is headed by Damian Bierman with the title of managing director, Asia Pacific.

The firm offers infrastructure and execution services to brokerage firms and institutional investors through the automation of trading workflows by streamlining data entry and integrating electronic order and execution handling.

The firm's expansion into Asia coincides with the increasing take up of straight through processing by core-Asian investors, which aim to take the risk of human error out of the trading process.

The firm as had a presence in Asia for five years, with a sales office in Japan and a support centre in Manila. But according to Bierman, the time is now right to increase its front office presence in non-Japan Asia's main market.

"We firmly believe the region offers us enormous potential," he says. "To underwrite this, we're investing now as part of a long term strategy for growth, not only within our technology division, but across our entire suite of products and services."

Along with the new office, NYFIX has also built additional data centres in Hong Kong and Tokyo, which will allow Asian placed orders for US and European trades, and US and European trades into Asia, to flow from one side to the other. "With a single connection, we can now take you anywhere in the world," says Bierman.