Sun Hung Kai Financial Group(SHKFG) has confirmed the appointment of Pershing to run the Group’s new US trading and settlement engine. It aims to enable SHKFG clients to trade US stocks.
The new trading system will first be introduced through SHK Online. Clients will now have the ability to trade US products together with the existing HK & H-shares instruments without having to open a separate account. SHKFG continues to provide the best available technology, as well as accurate and expedient services that enable its clients to make investment decisions with ease.
SHKFG’s stringent criteria for selecting its US trading platform provider highlighted the need for an acknowledged leader in the international marketplace with an excellent track record for delivering clearing and financial services outsourcing solutions. Pershing LLC, a member of BNY Securities Group and a subsidiary of The Bank of New York, was chosen to power the new system and provide SHKFG with the capabilities to support existing and future services, allowing its growing portfolio to better serve both local and global clients.
“SHK Financial Group’s mission is to provide top quality service to our clients,” says Douglas Chen, Chief Executive Officer, SHK Online Limited. “We selected Pershing based on their expertise in developing technology solutions that deliver speed, reliability, and flexibility, which will enable us to pass on benefits to our clients and allow us to further accentuate our focus on building client relationships.”
Joseph M. Velli, senior executive vice president of The Bank of New York and head of BNY Securities Group, added: “We are excited to support SHKFG, the largest and most established local firm, in delivering a leading service to the Hong Kong financial community.”
With over HK$15 billion of client’s assets under custody and HK$4.5 billion of shareholders funds, SHK Financial Group is one of the largest financial institutions in Hong Kong.