Rabobank is preparing to broaden the scope of its budding Asian equity derivatives operation by targeting additional markets. Howard Tong, head of equity derivatives for Asia in Hong Kong, said the firm is planning to enter the Korean derivatives market and establish a retail structured note program in Hong Kong this quarter. Additionally, he noted the firm is also looking at stepping into the massive offshore India market-access derivatives business, as well as set up a desk onshore later this year.
The Dutch firm is in the process of getting documentation and regulatory approval for its Hong Kong retail products business, said Tong. For the regional effort the firm is planning to hire an additional equity derivatives trader and a marketer in Hong Kong to boost the desk. "There are pockets of strength we're aiming at in Asia," noted Tong.
Early last year the firm established a regional equity derivatives operation in Hong Kong and has rolled out trading for the Hong Kong, Taiwan and Singapore markets over the course of 2005 (DW, 8/26).
