JonesTrading Institutional Services LLC is expanding its execution services to Japan as the first in a series of moves to provide its relationship-based model to Asia and the Pacific Rim.
The agency broker known for block trading of U.S. and international securities named Kevin Horgan, formerly of BTIG, as managing director to spearhead the expansion.
JonesTrading will begin its Asian execution offering with trading Japanese equities for U.S. institutions. The firm then contemplates expanded trading with Japanese institutions. The move to Japan serves as a springboard for an eventual expansion of the JonesTrading franchise into other Asian and Pacific Rim markets.
Jones Trading will base its Asian execution operations in Hawaii, where it has an opened an office in Honolulu. Horgan will be the branch manager of that office.
Prior to joining JonesTrading, Horgan was a sales trader in Japanese equities at BTIG. He has also served as managing partner at NAMINORI for five years and served in sales management roles at Merrill Lynch on the Japanese and European Convertibles teams.
Commenting in the release, Horgan stated, “Expansion of the JonesTrading franchise into Asia provides traditional asset managers and hedge funds with an important alternative to electronic models. Using JonesTrading, firms control their own orders and are able to source liquidity and execute strategies that leverage our relationships with over 1,000 institutions. I look forward to bringing the benefits of JonesTrading to Japan.”
The expansion into Japan reflects the firm’s continued push of its international execution efforts, which now include U.S. based trading of international securities and operations in Canada. “The expansion into Japan, with plans for greater initiatives to come, will enable both Japanese and U.S. institutions to source equity liquidity in size at advantageous prices,” stated Packy Jones, chairman and CEO of JonesTrading in the release.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio