US broker-dealer BTIG has extended its Asia footprint by opening an outsource trading desk in Hong Kong reported FINalternatives this week.
US broker-dealer BTIG has extended its Asia footprint by opening an outsource trading desk in Hong Kong reported FINalternatives this week. This follows last year’s opening of an office in Sydney. Trevor Harrison heads up the Hong Kong operation as more high profile hedge fund launches help raise Asia’s standing, in particular Hong Kong where the launch of Principia Capital Advisors and Carl Huttenlocher’s new fund, Myriad, are being eagerly anticipated. But it’s the smaller size hedge funds where Harrison sees growth opportunities: “New managers will choose outsource trading as an interim solution until their assets under management support hiring a bigger team,” Harrison was quoted as saying. “BTIG’s Outsource Trading Desk provides these managers not only with a valuable service but also with instant trading expertise,” added Jesse Lentchner, BTIG CEO for Asia Pacific. Harrison also believes existing fund managers will add BTIG as an extension of their internal dealing desk or as a “substitute for employing one in-house”.
