Bluefield Partners Reports Shanghai Office Refit Completed
Bluefield Partners says it is not daunted by controversy over high frequency trading technology as their 'Go Live' date looms.
- (1888PressRelease) September 09, 2015 - Bluefield Partners, the Shenzen, China-headquartered broker-dealer and wealth manager has announced the completion of the refit of the firm's new Shanghai offices from which its efforts to enter the primary broker space will be before the end of 2015.
"We're delighted to report that the extensive refit was completed at the end of last week," said Naveen Chawla, Head of Equity Sales at Bluefield Partners.
The refit entailed a complete gutting of the two floors' telecommunications infrastructure in favor of fiber optics which will underpin what is rumored to be a state-of-the-art high frequency trading system that will enable the firms traders to place orders at much faster speeds, despite controversy over the role the technology may have played in the sharp declines in Chinese mainland stocks that began in mid-June.
"HFT (High Frequency Trading) plays an increasingly important role in today's markets and, as it is our belief that it can provide our clients with an advantage, we are duty bound to provide it" explained Chawla.
High frequency trading has been criticized because it can be used to place huge market orders that can move prices and then cancel those orders before they're executed even though markets have already moved to reflect the impact of the order on the underlying asset. The CSRC (China Securities Regulatory Commission) is investigating several firms making use of HFT in order to determine whether they used "spoofing" techniques to move prices without actually committing to trades in an attempt to manipulate the market.
Bluefield Partners says its primary brokerage operations will target small technology IPOs to begin with so liquidity will not be affected by its HFT systems which it said will be used for the firm's proprietary trading operations and on larger client portfolio accounts.
About Bluefield Partners:
Bluefield Partners was established in 2005. We are headquartered in Shenzhen, China with presence in Beijing, Shanghai and Hong Kong.
Bluefield Partners functions as a privately held Investment Counseling and Advisory firm. We render investment and advisory services for individuals, trusts and charities who want their wealth managed professionally. Portfolios are tailored for each client on an individual basis. We are committed to enhancing your wealth and protecting your future.
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