Susquehanna targets Hong Kong expansion to tap China ETF boom, sources say

Susquehanna International Group plans to triple its office space in Hong Kong to support a major hiring push, four sources said, as the US trading firm expands Asia operations and seeks deeper access to China's exchange-traded fund (ETF) market.

The Philadelphia-based group has been actively looking for new office space in the Asian financial hub over the past few weeks, said the four sources familiar with the matter but who requested anonymity as the plans are confidential.

Susquehanna declined to comment.

One potential option is to lease three floors covering over 50,000 square feet in Cheung Kong Center II, a newly redeveloped office tower in Central, three of the sources said, adding that a relocation plan has yet to be confirmed.

The global systematic market maker and trading firm currently occupies less than 20,000 square feet in the AIA Central commercial building in the city's main business district.

The office space expansion will back Susquehanna's ambitious hiring plans in the city, two of the sources said.

A separate fifth source with knowledge of the matter said that the firm is focusing on opportunities in China's rapidly growing market for various asset classes to better support its global business.

Reuters

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