IS Prime Hong Kong, part of ISAM Capital Markets, announced this Thursday that it has been granted a Type 3 Leveraged Foreign Exchange Trading licence by the (SFC) in Hong Kong.
The licence will allow IS Prime Hong Kong to offer leveraged forex trading services to institutional professional investors. Previously, the company offered technology to the institutional space, but not trading.
In particular, the prime of prime broker will now provide institutional professional investors with customised pricing primarily sourced from Tier 1 institutions. This will be offered in conjunction with multi-asset Prime of Prime services and comprehensive front-to-back technology solutions.
In a press release seen by Finance Magnates that company said that it was awarded the licence after a rigorous application process. The named Responsible Officers are Will Robbins, Head of Asia and Crystal Ho, Vice President – Sales, North Asia, who are both based in Hong Kong, and Raj Sitlani, Managing Director, ISAM Capital Markets, who is based at the group’s headquarters in London.
IS Prime Hong Kong has secured the licence from the SFC shortly after its move this month to larger premises in Times Square. This move, combined with the granting of the licence shows a lot of confidence from the prime of prime broker despite the current turmoil in the country.
IS Prime: We’re not worried about Hong Kong turmoil
Finance Magnates reached out to IS Prime Hong Kong to learn more about their motivations, whether they are concerned about the current situation in Hong Kong and if the company has future plans for expansion.
“The regulatory regime is stringent, the legal system is extremely sophisticated and capital markets are highly liquid. This, together with the access and connectivity that Hong Kong has to financial resources from Mainland China and indeed overseas, means that it is the right place for us to build out our Asian business.
“We will be adding headcount to our sales and ETS divisions in short order, to continue to support our growth in the region and further attract a diverse range of institutional business. We are not currently pursuing other licences in the region but if the appropriate business opportunity arises we will look closely at it.”
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