Asian securities house KGI Securities has started trading equity derivatives in Hong Kong, according to Jerry Wu, regional head of equity derivatives trading in Hong Kong. Wu recently joined from Morgan Stanley and works alongside Howard Tong, head of equity derivatives marketing, and previously a director in global equity markets at Merrill Lynch (DW, 10/12).
"We're predominantly focusing on offshore products for Taiwan," said Tong. KGI plans to target derivatives on stocks in Korea and Thailand, where the firm also has a presence. It will then look toward the heavily brokered Hong Kong market. Once a team is in place, KGI will begin offering structured equity products as well as onshore derivatives regionally.
