Newedge has hired a five-strong fixed income futures team in Hong Kong. The team is headed by Lewis Ng, senior sales manager of exchange traded fixed income, who was previously director – desk manager for UBS AG Equity-ETD-Futures in Hong Kong.
Two of his colleagues at UBS – Kam Chiu Man and Nelson Ho – have also joined the team. The other members are Alan Chan, who joins from HSBC Futures, and Victor Yu from MF Global Hong Kong.
The team operates as a 24-hour desk serving primarily institutional investors. It focuses on interest rate futures, covering the Asian, European and US markets.
Emmanuel Faure, managing director, Hong Kong and head of financial futures, Asia Pacific, says, "Newedge has ambitious plans to continue to grow in Asia Pacific, supported by the increasing demand of the markets."
Meanwhile, Gary Cox, manager, environmental derivatives, Newedge Australia, tells Squawkbox that the first over the counter trade in the Australian National Emissions Trading Scheme was dealt last week with the first live trading prices provided by the energy division of Newedge Australia.