Asian investors are increasingly using single-dealer e-trading platforms that they say offer anonymity and spread improvement, rather like dark pools for equities.
Foreign investors must have exit strategies at all times to guard against the sudden risk of market liquidity grinding to a halt, says a fund manager in Ho Chi Minh City.
The bank's Asia-Pacific joint head of equities, John Adair, argues the model of running proprietary and client equity business in parallel is unsustainable in this regulatory environment.
Jan Shun Yet has joined alongside other sales trading hires, as buy-side demand grows for combining e-trading services with traditional advice and execution.
Takayuki Saito adds to the US bank's list of big hires in electronic trading, with a remit to expand the business under the Morgan Stanley MUFG Securities joint venture.
As Chi-X goes live in Japan, the alternative trading platform's Asia-Pacific chief speaks about competition, regulatory development and high-frequency trading.