SYDNEY, Sept 25 (Reuters) - Australian equities and derivatives exchange ASX Ltd ASX.AX on Friday said it will open an office in Hong Kong on Oct. 1 helping traders get faster and cheaper access to Sydney markets.
The announcement coincides with ASX's establishment of a 'direct connection hub' in Hong Kong to connect the special administrative region to Australia's finance markets, ASX said.
ASX's expansion into Asia comes at a time of rising concerns about the economic prospects of Australia's top trading partner amid a turmoil in Chinese markets.
"Asia is the world's fastest growing economic region and the source of increasing ASX customer flows," ASX Deputy CEO Peter Hiom said in a statement.
"The establishment of an office in Hong Kong, coupled with an expansion of our global hub network, reflects ASX's commitment to Asia."
ASX has started a yuan settlement service with Bank of China 601988.SS and signed an agreement to work with the China Futures Association.