Wematch goes live in Asia 09 November 2017 Hong Kong Reporter: Drew Nicol
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Wematch.SecuritiesFinancing has expanded into Asia and completed its first trade with Hong Kong users involving Japanese equities.
The trade, which involved Bank of America Merrill Lynch and an undisclosed counterparty, was a total return swap and completed on the platform’s first day of trading in the new region.
The digital broker has gone from strength to strength since it first launched in February, with the inclusion of its first two lenders last month.
Wematch initially launched with a focus on total return swaps and European equities, before moving into securities lending and repo services went live on 18 September, along with an expanded the list of available asset classes.
David Raccat, CEO of Wematch, said: "We are very eager in supporting our clients' needs in Asia and quite impressed with the immediate traction in this exciting region.”
“Our credentials keep on increasing, as we have broken the threshold of 1,000 interests in the platform on 9 November.”
“We are still working on multiple initiatives to cope with the specificities of the securities financing industry and with the permanent objective to increase liquidity and transparency."
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