Published On: Fri, May 14th, 2010

FIX Protocol APAC Trading Summit Highlights

Fix Protocol AsiaFix Protocol’s 8th Asia Pacific Trading Summit held here in Hong Kong yesterday (May 13) was an oversubscribed assembly of Asia’s electronic trading industry. Dubbed the “Tipping Point” eluding to the change that has gripped Asia and the rest of the world saw Damien Ryan of Ryan Communications chair the podium as moderator for the day smoothly introducing panelists and segueing into the discussions to keep the show moving along.

There were a number of our industry’s leading minds speaking including Charles Li of the Hong Kong Exchange and Martin Wheatley of the HKSFC who began the day with their insights and views of electronic trading in Asia.

Other discussions included an exchanges-only panel on Dark Pools, ETFs (Exchange Traded Funds) in Asia and the newly launched FIXatdl standard. Instinet’s Glenn Lesko spoke on smart order routing and alternative liquidity in Asia. There was also a panel on the post trade environment and where that business is heading in Asia.

My favourite presentations came from Deutsche Bank’s Greg Lee who showed us the micro structure impact of technology and regulatory change on three of Asia’s markets through a time series video.

The organizers cleverly kept the buy-side presentation to the end to keep everyone at the show. It did indeed prove sticky. The house was packed with everyone acutely listening in trying gain some insight into the buy-side’s needs. The scrutiny afforded was akin to a Fed Chairman’s speech at an FOMC meeting.

I was surprised, however, that there was nothing on market data or other assets classes like futures or options here in the era of FIX 5.0.

Notwithstanding the thought leadership, the day felt like a community event of friends and colleagues who all work, compete and face the same challenges here in Asia’s electronic trading industry. That was further underscored by Joel Hurewitz whose video montage recapped the day and its people within the zone’s FIX community.

Ed Mangles and his team put on a great FIX Protocol conference and I will be looking forward to next year.

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