Global institutional broking firm BTIG has plans to expand its services into the Australian superannuation industry.
The firm established a local business in February 2008. The outsource trading service was set up in October 2009. Four senior staff from Macquarie, ITG Australia and Citigroup were subsequently hired a month later.
Current clients include investment managers, hedge funds and family offices.
The firm offers institutional broking to smaller and medium-sized investment firms and an outsource trading service.
"Beyond the institutional investment managers we already service, we have plans to expand the outsource trading service to large Australian superannuation funds," BTIG chief executive Paul Brech said.
"The larger Australian superannuation funds are increasingly building their own in-house investment teams to invest directly. At the same time, these funds will need to answer the question: how will I executive my trading decisions? Will I, as a portfolio manager, be responsible for trade execution? Or will I need to employ an in-house dealing team?
"The outsource trading service allows funds to employ a buy-side dealing team without the high costs of building their own trading team."
The firm recently hired former Bell Potter trader Tim Delaney.
At BTIG, Delaney will be involved in options trading, another service the firm plans to introduce in Australia.
"We have applied for an options trading licence with the ASX (Australian Securities Exchange). With Tim on board and once the licence is approved, we are all set to go with the service in Australia," Brech said.
