SG equity derivatives team unaffected by Asia restructuring

SGSA plans to concentrate its South-east Asian presence in Singapore and Bangkok. It will no longer operate through a direct presence in Indonesia, Malaysia and the Philippines. But SG was keen to point out that it will maintain corporate banking activities in these countries.

While retaining its operations in China, Hong Kong, India, South Korea and Taiwan, the firm will also continue to concentrate on the research products area, corporate finance, structured products and equity derivatives business – where it claims to have a 25% warrant market share in Hong Kong.

“There is no doubt that our commitment to Asia and corporate and investment banking activities remains unchanged. Both will continue to be among our main areas of development,” said Michel Macagno, newly appointed chief executive for corporate and investment banking activities in the Asia-Pacific region.

SG introduced its warrant market making system to retail investors in Hong Kong in January following a new framework unveiled by the Hong Kong Exchanges and Clearing (HKEx) in late November that requested Hong Kong warrant issuers to play an active role in market-making. The system was imported from Europe and will follow the movements of the underlying share price and adjust the parameters of the bid/offer spread in real time.

Through the new market-making environment, SG hopes to provide more liquidity and options for investors. But there are no plans to add to the existing equity derivatives team, added the spokesperson.

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