German index provider Solactive opened an office in Hong Kong in a bid to attract exchange traded fund (ETF) and structured product issuers.
It the company’s second international business entity, following the establishment of an office in Toronto this January.
Operating from Toronto, Frankfurt, and Hong Kong, Solactive now provides its services across all time zones. This step also denotes an opportunity to further establish long-term partnerships with local clients and strengthen the footprint in the Asia-Pacific region, the company said in a statement.
“This is an exciting time for Solactive. The opening of our new entity in Hong Kong marks a huge milestone for the company since we are now able to provide 24-hours-service for our clients, making us one of the few globally operating index providers with a multi-asset offering,” Steffen Scheuble (pictured), chief executive at Solactive, said.
The company is looking to hire experts in Hong Kong to provide customised indexing solutions and services related to ETFs and other index-linked investment products.
The new office will also provide ETF services such as calculation of the Indicative Optimized Portfolio Value (IOPV) and creation of the Portfolio Composition File (PCF).
The new office will be led by Jennifer Steding, who has been Solactive’s team head for fixed income indexing for nearly three years.
ETF issuers and structured product houses currently make up a large part of the index provider’s clients in Asia.