Goldman Seeks Sydney Beachhead, Trade Hub for Local FX Assets

Sydney

Australia

Credit Rating

New Zealand

Hong Kong

Bonds

Markets

Finance

Asia

Americas

Fixed Income

Currency

United States

Sydney Opera House

Plans to develop Sydney as hub for trading local-currency assets, Australia’s stable AAA credit rating makes it a haven, encourages sovereign-wealth funds to allocate more money there, said Simon Rothery, CEO of Goldman Sachs Australia &amp; New Zealand. Moved Australian credit derivatives business from Hong Kong to Sydney last month after bringing over bond and swaps trading last year "The Aussie dollar is an ever more important part of sovereign-wealth funds, central banks and global accounts,