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BA Asia appointed market maker

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BA Asia has been appointed market maker for the heavily-traded Exchange Fund bills and notes and Mass Transit Railway Corp (MTRC) paper.

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The move will boost the bank's expansion in the debt securities market.

The bank has been concentrating on its Asia Securities Unit headed by David Walker-Smith, formerly with Chemical Securities Asia.

'Securing market-maker status was a strategic move and integral to our continued expansion plans within the Hong Kong debt securities market,' Mr Walker-Smith said.

The unit has been trading since October last year with 15 staff and the number is expected to rise this year.

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The unit focuses on fixed income markets and is a central component to the bank's strategy to gain market share and increase capital-raising activity for corporations in Asia.

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