Largest Canadian proprietary trading firm opens office in HK

Canada's largest proprietary trading company, SwiftTrade Inc, Thursday announced the launch of its overseas office, Day and Night Securities Limited, in Hong Kong.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Simon Galpin, said Hong Kong's reliable and sophisticated IT and telecommunications infrastructure allow time-sensitive businesses like SwiftTrade to operate in full efficiencyand effectiveness anytime.

Headquartered in Toronto, SwiftTrade is the first and the largest direct access electronic trading center in Canada. The firm was founded by Peter Beck, Charles Kim and Joseph Ianni in 1997.

The President of SwiftTrade, Peter Beck, said, "We are extremely excited about our expansion to Hong Kong. Hong Kong is atruly beautiful city. The large population of highly educated and motivated people here have allowed us to find a team of good traders."

Discussing possible expansion, Beck said "We also have plans toput a data center in the city to support all our Asian offices. Weare currently working to provide our traders with access to the Hong Kong Stock Exchange, which will greatly expand our opportunities here."

Source: Xinhua