IS Prime Hong Kong, part of ISAM Capital Markets, has been granted a Type 3 Leveraged Foreign Exchange Trading licence by the Securities and Futures Commission (SFC) in Hong Kong. The licence enables the firm to offer leveraged FX trading services to institutional professional investors.
The named Responsible Officers are Will Robbins, head of Asia and Crystal Ho, vice president – sales, North Asia, both based in Hong Kong, and Raj Sitlani, managing director, ISAM Capital Markets, who will continue to be based at the group headquarters in London.
The licence approval coincides with IS Prime Hong Kong’s office move this month to larger premises in Times Square, within the heart of the Causeway Bay commercial district, paving the way for increased headcount as the firm focuses on growth in the region.
“Being granted an SFC licence legitimises ISAM Capital Markets’ presence in the region and will be a catalyst for significant growth,” says Sitlani. “A local presence in Hong Kong is critical for building strong client relationships and we are thrilled to be able to extend our services beyond our market leading technology to now offer FX trading to institutional clients.”
Robbins adds, “Since opening our office in Hong Kong in February 2017, we have built a comprehensive understanding of the requirements of FX market participants, including brokers, banks and fund managers, and we are now in a strong position to offer them the full range of services from within the ISAM Capital Markets group – most notably our market leading liquidity, risk management and technology services. We are deeply committed to the Asia region, and the Hong Kong market in particular, and are excited to be officially opening our doors for business.”
Associate director-general of investment promotion at InvestHK, Jimmy Chiang, says, “We are pleased to see the expansion of IS Prime following the granting of the licence by SFC in Hong Kong. This reaffirms the strong financial service fundamentals of Hong Kong as a place for UK companies to do business.”