Deutsche Börse has connected the first participant from Hong Kong, Celestial Securities Limited, to its direct market access (DMA) Xetra trading system. The Xetra network includes more than 240 trading participants with around 4,500 traders across 18 countries now having direct access to its key German markets.
This is the first time that a trading participant from East Asia has been directly connected to Xetra. Celestial Securities Limited, a subsidiary of the Hong Kong-listed financial conglomerate Cash Financial Services Group, now receives direct access to secure and supervised exchange trading in Germany.
Due to the time difference between Hong Kong and Frankfurt, participants take part in Xetra trading from 2pm-2am (local time in Hong Kong is CEST+6). Traders can therefore react to events in Europe or on the US markets after the exchanges have closed in Asia. In Frankfurt, they can now access a broad range of more than one million domestic and foreign equities, exchange traded funds (ETFs) and structured products. Securities in Frankfurt are traded in up to 19 different currencies.
“Xetra trading features transparency, fair pricing and strict trading supervision,” claims Dr Martin Reck, managing director of the cash market at Deutsche Börse. “The first participant from Hong Kong now has direct access to the reference market for all important German shares. In connecting to the Xetra trading system, Cash Financial Services Group offers its clients a round-the-clock trading experience, enabling clients to grasp the world investment opportunities beyond time limit.”
The ability to beat the clock is certainly one of the major attractions of the DMA system, with Benson Chan, chief executive officer (CEO) of Cash Financial Services Group, pointing out that: “Extended trading hours mean investors can now respond even better to trading signals from around the globe, hedging risks ahead of local peers.”
• Deutsche Börse recently launched an exciting technology-focused exchange dedicated to trading in cloud computing storage and capacity to join its DMA offerings and other markets. Read the bobsguide piece on it here.