SwiftTrade Announces New Hong Kong Office
by Mary Swire, Tax-News.com, Hong Kong
05 November 2004

Canada’s largest proprietary trading company, SwiftTrade Inc, which trades approximately US$4 billion worth of shares per week, announced yesterday its decision to locate its overseas office, Day and Night Securities Limited, in Hong Kong.

"As the international financial centre in Asia, Hong Kong offers many business opportunities for all kinds of foreign financial services companies,” commented Simon Galpin, the Associate Director-General of Investment Promotion at Invest Hong Kong.

Headquartered in Toronto, SwiftTrade is the first and the largest direct access electronic trading centre in Canada. The firm's proprietary traders actively trade the NASDAQ, AMEX, NYSE and CME markets, executing upwards of 50,000 transactions representing an average of 60 to 100 million shares every day.

“Our reliable and sophisticated IT and telecommunications infrastructure allow time-sensitive businesses like SwiftTrade to operate in full efficiency and effectiveness anytime," added Mr Galpin.

Meanwhile, President of SwiftTrade, Peter Beck, remarked that he was “extremely excited about our expansion to Hong Kong.”

“The large population of highly educated and motivated people here have allowed us to find a team of good traders," he observed.

The company's system currently handles approximately US$4 billion in transaction per week, and the firm employs over 450 traders through 21 locations from Toronto to Hong Kong.

Mr Beck added that SwiftTrade is also working towards providing traders with access to the Hong Kong Stock Exchange, a move he said “will greatly expand our opportunities here.”

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