Derivatives broker Sucden Financial’s Hong Kong operation has received approval from the Securities and Futures Commission (SFC) to offer its clients futures and options trading services.
Previously Sucden Financial (HK) acted as an introducing broker to its parent company for futures and options business.
“This is great news for our rapidly expanding Hong Kong subsidiary, potentially opening the door to a future application for clearing membership of the HKEx [Hong Kong Exchanges and Clearing], adding strength and momentum to our continued growth of operations in the Asia region,” says Michael Overlander, CEO of Sucden Financial.
Sucden Financial (HK) was established in 2008. Last year it received a licence from the SFC to engage in leveraged FX trading, allowing clients to trade FX directly with its brokerage desk and via its electronic trading system. Overlander says the latest developments demonstrate the company’s commitment and expansion in Asia.
Sucden Financial provides access to a range of markets, including exchange and OTC traded products, as well as foreign exchange, bullion and equities. In addition to its head office in London and subsidiary in Hong Kong, it has an office in Moscow.