Sept. 17 (Bloomberg) -- CME Group Inc., the world’s largest futures exchange, plans to boost its headcount in Asia as much as 27 percent by next year as trading volumes increase.
The number will rise to 60 to 70 from 55 now, said Julien Le Noble, managing director for the Asia-Pacific region. China is a key area of focus as the government pursues financial reform, Le Noble said in an interview today.
The bourse is benefiting from sustained growth in Asia. Trading volumes across the region are climbing 35 percent a year, driven by grains, currencies, gold, energy and financials, Chief Executive Officer Phupinder Gill said in March. China, the top user of metals and energy, will grow 7.5 percent this year, according to estimates compiled by Bloomberg.
“Our ambition is to grow market participation from this region,” said Le Noble, who is based in Singapore. “China is a key strategic area given the pace at which the new leadership is looking to reform the financial market. We have seen those steps toward reform accelerate so fast.”
China completed a once-a-decade leadership transition this March, when the Communist Party’s top two officials, Xi Jinping and Li Keqiang, took their state posts as president and premier. Xi also oversees the military, while Li has stewardship of the economy. The bourse opened an office in Beijing in May. It also has offices in Seoul, Tokyo, Hong Kong and Singapore.
--With assistance from Chanyaporn Chanjaroen in Singapore. Editors: Jake Lloyd-Smith, James Poole