Waters magazine - A Brand New Floor
Waters magazine - A Brand New Floor: "1 December 2005
TRADING TECHNOLOGY
A Brand New Floor
HSBC Securities USA moves up Fifth Avenue to its new midtown Manhattan trading floor.
HSBC Securities USA has returned a group of traders to a revamped trading floor at 452 Fifth Avenue in midtown Manhattan, after having spent a few months this summer at a temporary trading floor down the road at 417 Fifth Avenue
Completed this September, the move is part of an effort to revamp an equity platform around key client segments in a more accommodating location, say HSBC officials. The 452 Fifth Avenue location was also the site for a Republic Bank of New York trading floor that had a capacity for at least 350 positions. After HSBC acquired Republic, the new owner built a new floor from scratch approximately five years ago.
For the revamped floor, the sales trader and sector trading contingents have moved in as well as 'a growing research sales group,' says James T. Leman, managing director, head of Americas, electronic equities trading, HSBC Securities (USA), in New York.
'At the far end of the floor is the equity capital markets group. The growing connectivity, program trading and direct market access team has also moved in. We also have certain business management and technology support personnel on the floor,' Leman says.
Officials decline to disclose the number of traders that now occupy the revamped floor, but they do confirm that there is room for growth. 'I think there's going to be growth in the research sales area, and in the area that supports hedge fund-related services as well as in the program and connectivity space,' Leman says. 'I think there will be a few additions in the sales trading and trading areas, but they're pretty much fleshed out.'
On the desks, traders will find flat screens and BT trading turrets, which mirror HSBC's deployments of BT voice systems in Hong Kong. Officials at BT decline to comment about the turret deployment "
TRADING TECHNOLOGY
A Brand New Floor
HSBC Securities USA moves up Fifth Avenue to its new midtown Manhattan trading floor.
HSBC Securities USA has returned a group of traders to a revamped trading floor at 452 Fifth Avenue in midtown Manhattan, after having spent a few months this summer at a temporary trading floor down the road at 417 Fifth Avenue
Completed this September, the move is part of an effort to revamp an equity platform around key client segments in a more accommodating location, say HSBC officials. The 452 Fifth Avenue location was also the site for a Republic Bank of New York trading floor that had a capacity for at least 350 positions. After HSBC acquired Republic, the new owner built a new floor from scratch approximately five years ago.
For the revamped floor, the sales trader and sector trading contingents have moved in as well as 'a growing research sales group,' says James T. Leman, managing director, head of Americas, electronic equities trading, HSBC Securities (USA), in New York.
'At the far end of the floor is the equity capital markets group. The growing connectivity, program trading and direct market access team has also moved in. We also have certain business management and technology support personnel on the floor,' Leman says.
Officials decline to disclose the number of traders that now occupy the revamped floor, but they do confirm that there is room for growth. 'I think there's going to be growth in the research sales area, and in the area that supports hedge fund-related services as well as in the program and connectivity space,' Leman says. 'I think there will be a few additions in the sales trading and trading areas, but they're pretty much fleshed out.'
On the desks, traders will find flat screens and BT trading turrets, which mirror HSBC's deployments of BT voice systems in Hong Kong. Officials at BT decline to comment about the turret deployment "
posted by eecalvin @ 8:58 AM
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