Mirae Expands Correspondent Clearing Business


So, what’s one of the largest Asian banks to do to increase its American equity market presence?

Tap into an underserved market, of course. And that’s what Mirae Asset Securities (USA) has done. In looking at the North American trading space, the firm is taking its clearing operations to the United States and attracting top talent in the correspondent area to gain market share and business.

Robert Akeson, Mirae Asset Securities

“Mirae Asset Securities (USA) Inc. continues to make serious inroads within the correspondent clearing space by attracting top-tier introducing brokers,” according to Robert Akeson, Co-Head of Prime Brokerage, Correspondent Clearing & Agency Execution at Mirae.

Most recently, BTIG, a global financial services firm specializing in institutional trading, investment banking, research and related brokerage services, selected Mirae Asset Securities (USA) Inc. as one of its clearing firms.

With an extensive global footprint and more than 600 employees, BTIG and its affiliates operate out of 18 cities throughout the U.S., Europe, Asia and Australia. The firm prides itself on working to service its more than 3,000 institutional and corporate clients at every stage of the investment lifecycle.

Mirae also recently inked a deal with Bell Potter Securities (US) LLC, a wholly-owned subsidiary of Bell Financial Group Limited, a leading Australian financial services firm. The Australian parent is a highly respected financial services boutique operating in the investment banking, research and trading investment advisory circles “down-under”.

Bell Potter is a recent entrant to the U.S. market, providing client-focused investment advice, trade execution services and independent research to institutional and corporate clients seeking to access the Australian equity markets.  The Bell Financial Group Limited is headquartered in Sydney, Australia, with offices in Melbourne, Hong Kong, London, and now, New York.  Bell Financial Group Limited is also publicly traded in Australia.

Jim DeAlto, Co-Head of Prime Brokerage, Correspondent Clearing & Agency Execution at Mirae added: “Mirae looks forward to continuing to extend access to the full breadth of Mirae’s and its affiliates’ capabilities, as appropriate.”

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