LONDON, March 31, 2011 /PRNewswire/ -- Trayport®, a leading provider of commodities and equities trading technology worldwide, today announced the opening of the company's new office in Singapore.
Trayport has had offices in Hong Kong since 2006, but will now serve Asian brokers, trader and exchange clients from its new Singapore office from 1st April. Singapore provides Trayport with a strategic location to serve the region, as well as growing distribution for its multi-asset trading technology in one of the world's fastest growth areas for electronic commodities trading.
Trayport's offices are located at 55 Market Street in the centre of Singapore's financial district and all regional client relationships will be managed through the Singapore office.
Elliott Piggott, CEO of Trayport, said, "Trayport is very well known by the international trading communities for the platforms it provides to medium sized equity and commodity derivative exchanges and many OTC markets. We are making Singapore our main centre for expansion in the region due to its great transport links, growing trading community and proximity to many of our existing clients."
"As well as our equities business we will be focusing on Singapore's fast-growing commodities sector. Singapore has quickly become the centre of freight, coal, iron ore and fuel oil trading – all traded on Trayport technology," said James Davies, Head of Sales, Trayport. "The coal market alone has grown 49% globally in the last two years, with Trayport accounting for over 90% of electronic trades in coal. Additionally, Trayport also has nearly 100% of the market globally for electronic traded freight. We therefore need to be closer to the Asian markets where a large proportion of these assets are traded. Trayport will transition all of our Asia sales and support to Singapore from Hong Kong by the start of the second quarter of 2011."
Sarah Lane, General Manager, Asia, said, "Trayport already has clients including NZX, Ginga and JOX who trade equities, fuel oil, coal, freight and renewables in Asia, as well as the international markets from London and New York. A Singapore office means we are better equipped to serve those trading derivatives by committing local resources to our clients. Support, product, sales and client Management specialists will move to Singapore. This means that our existing clients will benefit as well as allowing us to successfully extend our business in Asia-Pacific."
Trayport's offices in Singapore will provide clients with improved access to its staff for technical support and assistance. It ensures Trayport will be well located to become an increasingly integral part of the derivatives trading community, while also attracting new commercial and IT specific talent with experience in electronic trading. To contact Trayport in Singapore please telephone +65 6521310 or email firstname.lastname@example.org