{"id":47867,"date":"2021-11-22T09:34:35","date_gmt":"2021-11-22T01:34:35","guid":{"rendered":"https:\/\/news.outsourceaccelerator.com\/?p=47867"},"modified":"2021-11-19T14:39:17","modified_gmt":"2021-11-19T06:39:17","slug":"asia-is-starting-to-catch-up-with-outsourced-trading","status":"publish","type":"post","link":"https:\/\/news.outsourceaccelerator.com\/asia-is-starting-to-catch-up-with-outsourced-trading\/","title":{"rendered":"Asia is starting to catch up with outsourced trading"},"content":{"rendered":"
Fund managers and family businesses in Asia have been pushed to start outsourcing their trading services as they look to cut costs and set up contingency plans amid the pandemic.\u00a0<\/span><\/p>\n According to business executives in the region, Asia has been lagging behind other continents on the outsourcing front because of a reluctance to ask for help outside the company.\u00a0<\/span><\/p>\n However, APAC head of portfolio solutions James Woodward said that the region is starting to \u201cembrace the benefits that can be garnered\u201d from partnering with outsourcing firms due to COVID-19.<\/span><\/p>\n A report from consultancy firm Quinlan & Associates showed that about 40 Asian companies are currently engaged in outsourced trading.\u00a0<\/span><\/p>\n Meanwhile, a recent survey by Northern Trust of 300 big firms recorded that 85% were already taking on the service or interested in doing so.<\/span><\/p>\n Out of all Asian countries, China is the \u201ctoughest market to crack\u201d when it comes to outsourced trading even as the nation\u2019s financial market is starting to open.<\/span><\/p>\n