Opens Hong Kong office.
Leading Swiss-based retail Forex brokerage MIG BANK (a member of LeapRate's Approved List of Forex firms) announced today that it has opened a representative office in Hong Kong, to facilitate continued growth in Asia.
MIG BANK, one of just three firms which received Swiss bank licenses now required by Swiss financial regulator FINMA to operate a Forex business in the country (the other two being Swissquote and Dukascopy), has been expanding rapidly the past two years. As part of its expansion, MIG BANK is in the process of moving its headquarters from the town of Neuchatel to Lausanne, which after Geneva (which houses the UN's European HQ) is the most international city in Switzerland (and home to the International Olympic Committee).
We expect to continue to see leading global Forex firms opening offices in the greater Asia-Pacific region, which has been home to the greatest rate of growth for the Forex industry the past 18 months. Part of this expansion, of course, is to service the increasing amount of retail FX business coming from mainland China, as the PBOC and Chinese authorities continue to loosen currency regulation and controls on the Yuan, and allow greater flow of capital.
For more on the global FX market see the LeapRate Dow Jones Forex Industry Report.