StoneX Group Inc. recently introduced its institutional credit offering in Asia to help leverage the global debt abilities in the Asia-Pacific (APAC) region.
"Adding a strong fixed income offering in Asia is a significant step toward building a full-service, global, fixed income offering and advances our goal of providing global, 24-hour, fixed income trading," Anthony Diciollo, Global Co-Head of Fixed Income for StoneX, said. "With the strength of our U.S. and EMEA offerings, it was a natural progression for us to utilize the geographical diversity of StoneX to further build in APAC. StoneX has a reputation for providing consistent liquidity across a robust array of fixed-income products and our new desk brings proven industry expertise that allows us to connect clients globally in a challenging market environment.”
The expansion comes after the company secured a fixed income sales and trading desk in Singapore, with expansion plans in Australia and Hong Kong. Its operations span more than 40 offices worldwide.
"Our fixed income desk brings yet another product suite to the APAC region and emphasizes StoneX's commitment to regional specialization within a global product offering," Greg Kallinikos, Chief Executive Officer of StoneX in Asia, said. "In 2019, we significantly strengthened our footprint in Singapore with the launch of an Asia focused derivatives clearing and execution business. Our regional operations have since grown significantly in tandem with the Group's strengthening position in both wholesale and retail markets. The institutional credit offering is the latest in StoneX's expansion into the region, in keeping with the rollout of our trademark boots-on-the-ground perspective across global markets. We continue to leverage our decades of market expertise as well as the financial strength of StoneX Group, to unlock value for our clients and provide best-in-class service."
The company has brought in Robert Hong to oversee the APAC fixed income desk operations. The executive has garnered ample global credit market experience from his former roles as Managing Director for Cantor Fitzgerald overseeing their fixed income division in Singapore. Prior to joining Cantor Fitzgerald, Hong worked for Deutsche Bank, where he was responsible for overseeing Asia credit and developing markets involved in trading operations.
"The Asia-based desk will provide APAC clients with robust trading and execution advisory services and cross-border facilitation across the entire credit spectrum," a recent press release expresses."StoneX's global fixed income team has a breadth of product expertise ranging from emerging market, investment-grade, high yield down to distressed situations, and the new desk in Singapore will enable the firm to unlock the full potential of its global distribution network as well as serve clients on a 24-hour basis. Most importantly, through this new fixed income desk, StoneX will be able to maximize pockets of credit liquidity in these challenging times of volatile rates against an adverse macro backdrop."